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32 chapters · 761 sections in this title.
Mich. Comp. Laws § 450.4511 Investigation of allegations; stay of derivative proceeding.
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Sec. 511. If the limited liability company commences an investigation of the allegations made in the demand or complaint, the court may stay any derivative proceeding for a period as the court considers appropriate.
Mich. Comp. Laws § 450.4512 Dismissal of derivative proceeding; findings; burden of proof; determination; “disinterested” defined.
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Sec. 512. (1) The court shall dismiss a derivative proceeding if, on motion by the limited liability company, the court finds that 1 of the groups specified in subsection (3) has made a determination in good faith after conducting a reasonable investigation upon which its conclus…
Mich. Comp. Laws § 450.4513 Discontinued or settled derivative proceeding; court approval required; notice; expense.
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Sec. 513. A derivative proceeding may not be discontinued or settled without the court's approval. If the court determines that a proposed discontinuance or settlement will substantially affect the interests of members of the limited liability company, the court shall direct that…
Mich. Comp. Laws § 450.4514 Termination of derivative proceeding; court order.
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Sec. 514. If a derivative proceeding is terminated, the court may order 1 of the following: (a) The plaintiff to pay any of the defendants' reasonable expenses, including reasonable attorney fees, incurred in defending the proceeding if it finds that the proceeding was commenced …