With the increasing attention to the concept of microgrids, it has become important to identify the requirements that enable an electric distribution network to operate as a microgrid. This paper studies a realistic distribution network to accomplish the following: 1) determine the conditions under which the network can operate as a microgrid and 2) present the control scenarios that allow the islanded operation of the network. In particular, the employment of electronically coupled distributed energy resources with the fault-ride-through and synchronization capabilities is investigated. Another objective of this paper is to propose practical protection strategies that are effective in both operational modes of a microgrid (i.e., the grid-connected mode and the islanded mode), considering the system constraints; the protection strategies provide the microgrid with acceptable reliability against different fault scenarios. The effectiveness of the control and protection strategies is demonstrated and discussed through a comprehensive set of simulation studies conducted in the PSCAD/EMTDC software environment.