Plain English Breakdown
The official summary does not provide details on what specific changes will be made or how they will affect other sections of the act.
Making Gender-Neutral Changes to Michigan's Limited Liability Company Act
This legislation changes certain parts of the Michigan Limited Liability Company Act to use gender-neutral language.
What This Bill Does
- Changes references in the Michigan Limited Liability Company Act to be gender neutral.
Who It Names or Affects
- Limited liability companies operating under Michigan law.
- Individuals involved with limited liability companies in Michigan.
Terms To Know
- Gender-neutral
- Language or policies that do not assume a specific gender and are inclusive of all genders.
- Limited Liability Company (LLC)
- A type of business structure that combines the benefits of a partnership with those of a corporation, offering personal liability protection for its owners.
Limits and Unknowns
- The bill does not specify how gender-neutral language will be implemented in other sections of the act.
- It is unclear what specific changes will be made to section 504 without seeing the exact text of the amendment.