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A Limited liability company (LLC) is a business structure that offers limited liability protection and pass-through taxation. As with corporations, the LLC legally exists as a separate entity from its owners. Therefore, owners cannot typically be held personally responsible for the business debts and liabilities.
Do property managers need real estate licensure in Michigan? Yes, property managers must be certified as real estate brokers or associate brokers (339.2501. t). There are extensive education requirements as well as state testing required to earn this license.
AN ACT to provide for the organization and regulation of limited liability companies; to prescribe their duties, rights, powers, immunities, and liabilities; to prescribe the powers and duties of certain state departments and agencies; and to provide for penalties and remedies.
A limited liability company may be formed under this act for any lawful purpose for which a domestic corporation or a domestic partnership could be formed, except as otherwise provided by law.
A domestic LLC is created as a business entity legally separate from its owners and is formed within the state of Michigan. The articles of organization must obey the legal requirements of the state. These include: Registering a name using LLC or ?Limited Liability Company.?
AN ACT to provide for the organization and regulation of limited liability companies; to prescribe their duties, rights, powers, immunities, and liabilities; to prescribe the powers and duties of certain state departments and agencies; and to provide for penalties and remedies.
Prepare and file with Michigan Michigan does not require you to submit an Operating Agreement to form your LLC.