Sec. 504. (1) A membership interest is personal property and may be held in any manner in which personal property may be held. A husband and wife may hold a membership interest in joint tenancy in the same manner and subject to the same restrictions, consequences, and conditions that apply to the ownership of real estate held jointly by a husband and wife under the laws of this state, with full right of ownership by survivorship in case of the death of either. (2) A member has no interest in specific limited liability company property.
Mich. Comp. Laws § 450.4504
Membership interest as personal property
Applied in 8 court decisions — leading case Tooling, Manufacturing & Technologies Ass'n v. Hartford Fire Insurance (2012)
Most recently applied in Allard v. Allard (May 2016)
1993, Act 23, Eff
How often courts cite this section
Court decisions citing this, by year. The dip in the last several years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the most recent years, so recent citations are undercounted.
Official source: Michigan Legislature. Reproduced from public-domain Michigan statutes; confirm against the official source for the current text. Not legal advice.