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Article 1 - (449.1101...449.1109)
Section 449.1101 - Definitions. - Sec. 101. As used in this act, unless the context...
Section 449.1102 - Name of Limited Partnership; Requirements and Restrictions. - Sec. 102. The name of each limited partnership as set...
Section 449.1103 - Name of Limited Partnership; Reservation of Exclusive Right to Use; Application; Time Period; Expiration; Extension; Transfer of Right. - Sec. 103. (a) The exclusive right to the use of...
Section 449.1104 - Transacting Business Under Assumed Name; Certificate. - Sec. 104. (a) A domestic limited partnership may transact its...
Section 449.1105 - Maintenance of Office and Agent for Service of Process; Resignation of Agent; Appointment of Successor. - Sec. 105. (a) Each limited partnership shall continuously maintain in...
Section 449.1106 - Records Required to Be Kept at Office; Inspection and Copying by Partner or Representative. - Sec. 106. Each limited partnership shall keep at the office...
Section 449.1107 - Business Which May Be Carried On. - Sec. 107. A limited partnership may carry on any business...
Section 449.1108 - Loans by Partner and Other Transactions With Limited Partnership; Rights and Obligations. - Sec. 108. Except as provided in the partnership agreement, a...
Section 449.1109 - Agreement to Pay Interest in Excess of Legal Rate; Defense of Usury Prohibited. - Sec. 109. A domestic or foreign limited partnership, whether or...
Article 2 - (449.1201...449.1210)
Section 449.1201 - Formation; Certificate of Limited Partnership; Contents; Date of Formation. - Sec. 201. (a) In order to form a limited partnership...
Section 449.1202 - Certificate of Limited Partnership; Amendment; Contents of Certificate of Amendment; Events Necessitating Amendment; Liability; Restated Certificate of Limited Partnership; Effective Date of Amendment. - Sec. 202. (a) A certificate of limited partnership is amended...
Section 449.1203 - Certificate of Limited Partnership; Cancellation; Contents of Certificate of Cancellation; Effective Date of Cancellation. - Sec. 203. (a) A certificate of limited partnership shall be...
Section 449.1204 - Manner of Executing Certificates. - Sec. 204. (a) Each certificate required by this article to...
Section 449.1205 - Failure to Execute Certificate; Circuit Court Proceedings; Court-Ordered Certificate; Assessment of Court Costs and Attorney Fees; Effective Date of Court-Ordered Amendment or Cancellation. - Sec. 205. If a person required by section 204 to...
Section 449.1206 - Documents; Filing; Submission; Delivery; Endorsement; Return of Copy or Original; Public Inspection; Records or Files; Effective Date of Documents; Forms; Fees. - Sec. 206. (1) A document required or permitted to be...
Section 449.1207 - False Statements in Certificate; Recovery of Damages. - Sec. 207. If any certificate of limited partnership, certificate of...
Section 449.1208 - Certificate on File as Notice of Matters Included Therein. - Sec. 208. The fact that a certificate of limited partnership...
Section 449.1209 - Delivery of Copy of Certificate to Limited Partners Upon Return of Certificate by Administrator. - Sec. 209. Upon the return by the administrator pursuant to...
Section 449.1210 - Merger or Consolidation of Domestic Limited Partnerships; Plan of Merger or Consolidation; Certificate; Applicable Provisions; Abandonment; Merger or Consolidation of Domestic Limited Partnership With Foreign Limited Partnership; S... - Sec. 210. (1) A domestic limited partnership may merge or...
Article 3 - (449.1301...449.1305)
Section 449.1301 - Admission of Additional Limited Partners. - Sec. 301. (a) After the filing of a limited partnership's...
Section 449.1302 - Voting Rights of Limited Partners. - Sec. 302. Subject to section 303, the partnership agreement may...
Section 449.1303 - Liability of Limited Partner for Obligations of Limited Partnership. - Sec. 303. (a) Except as provided in subsection (d), a...
Section 449.1304 - Liability of Person Erroneously but in Good Faith Believing He or She Is Limited Partner. - Sec. 304. (a) Except as provided in subsection (b), a...
Section 449.1305 - Rights of Limited Partner. - Sec. 305. Each limited partner has the right to: (1)...
Article 4 - (449.1401...449.1405)
Section 449.1401 - Admission of Additional General Partners. - Sec. 401. After the filing of a limited partnership's original...
Section 449.1402 - Events Causing Cessation as General Partner. - Sec. 402. Except as approved by the specific written consent...
Section 449.1403 - General Partner; Rights and Powers; Restrictions. - Sec. 403. (a) Except as provided in this act or...
Section 449.1404 - General Partner; Right to Contribute to Partnership and Share in Profits and Losses as General or Limited Partner; Rights, Powers, Restrictions, and Liabilities of One Person as Both General and Limited Partner. - Sec. 404. A general partner of a limited partnership may...
Section 449.1405 - Voting Rights of General Partners. - Sec. 405. The partnership agreement may grant to all or...
Article 5 - (449.1501...449.1504)
Section 449.1501 - Contribution of Partner, Form. - Sec. 501. The contribution of a partner may be in...
Section 449.1502 - Obligation of Limited Partner to Contribute; Obligation Upon Failure to Contribute; Compromise of Obligation; Creditor Enforcement of Original Obligation; Obligation of General Partner to Contribute. - Sec. 502. (a) Except as provided in the certificate of...
Section 449.1503 - Allocation of Profits and Losses Among Partners; Determining Value of Contributions. - Sec. 503. The profits and losses of a limited partnership...
Section 449.1504 - Allocation of Cash and Other Assets Among Partners; Determining Value of Contributions. - Sec. 504. Distributions of cash or other assets of a...
Article 6 - (449.1601...449.1608)
Section 449.1601 - Right of Partner to Receive Distributions Before Partner's Withdrawal From Partnership and Before Dissolution and Winding Up of Partnership. - Sec. 601. Except as provided in this article, a partner...
Section 449.1602 - Right of General Partner to Withdraw; Recovery by Limited Partner for Breach of Partnership Agreement. - Sec. 602. A general partner may withdraw from a limited...
Section 449.1603 - Right of Limited Partner to Withdraw. - Sec. 603. A limited partner may withdraw from a limited...
Section 449.1604 - Right of Withdrawing Partner to Receive Distribution and Fair Value of Partnership Interest. - Sec. 604. Except as provided in this article, upon withdrawal...
Section 449.1605 - Distribution in Cash or in Kind. - Sec. 605. Except as provided in the certificate of limited...
Section 449.1606 - Status and Remedies of Partner as Creditor With Respect to Distribution. - Sec. 606. At the time a partner becomes entitled to...
Section 449.1607 - Distribution; Limitation. - Sec. 607. A partner may not receive a distribution from...
Section 449.1608 - Limited Partner; Liability Following Return of Contribution. - Sec. 608. (a) If a limited partner has received the...
Article 7 - (449.1701...449.1705)
Section 449.1701 - Partnership Interest as Personal Property. - Sec. 701. A partnership interest is personal property. History: 1982,...
Section 449.1702 - Partnership Interest; Assignment; Effect. - Sec. 702. Except as provided in the partnership agreement: (i)...
Section 449.1703 - Charging Partnership Interest With Payment of Unsatisfied Amount of Judgment; Rights of Judgment Creditor; Exemptions. - Sec. 703. Upon application to a court of competent jurisdiction...
Section 449.1704 - Assignee; Right to Become Limited Partner; Rights, Powers, Restrictions, and Liabilities of Assignee Who Becomes Limited Partner. - Sec. 704. (a) An assignee of a partnership interest, including...
Section 449.1705 - Effect of Death or Adjudication of Disability of Individual Partner; Non-Individual Partner; Effect of Dissolution or Termination of Corporation, Trust, or Other Entity as Partner. - Sec. 705. If a partner who is an individual dies...
Article 8 - (449.1801...449.1805)
Section 449.1801 - Dissolution of Limited Partnership. - Sec. 801. A limited partnership is dissolved and its affairs...
Section 449.1802 - Court-Ordered Dissolution on Application by or for Partner; Grounds; Other Relief; Forwarding Order of Dissolution to Administrator. - Sec. 802. On application by or for a partner the...
Section 449.1803 - Action by Attorney General for Dissolution; Grounds; Other Actions. - Sec. 803. (a) The department of attorney general may bring...
Section 449.1804 - Authority to Wind Up Limited Partnership's Affairs. - Sec. 804. Except as provided in the partnership agreement, the...
Section 449.1805 - Distribution of Assets Upon Winding Up. - Sec. 805. Upon the winding up of a limited partnership,...
Article 9 - (449.1901...449.1910)
Section 449.1901 - Foreign Limited Partnership; Governing Laws; Effect of Difference Between Laws on Registration. - Sec. 901. Subject to the state constitution of 1963, (1)...
Section 449.1902 - Registration Required; Application. - Sec. 902. Before transacting business in this state, a foreign...
Section 449.1903 - Certificate of Registration; Issuance; Return to Applicant. - Sec. 903. (a) If the administrator finds that an application...
Section 449.1904 - Registration of Name. - Sec. 904. A foreign limited partnership may register with the...
Section 449.1905 - Correction of False or Inaccurate Statements in Application for Registration. - Sec. 905. If any statement in the application for registration...
Section 449.1906 - Cancellation of Registration; Effect. - Sec. 906. A foreign limited partnership may cancel its registration...
Section 449.1907 - Maintaining Court Action in State Before Registration Prohibited; Effect of Transacting Business in State Without Registration. - Sec. 907. (a) A foreign limited partnership transacting business in...
Section 449.1908 - Action to Restrain Foreign Limited Partnership From Transacting Business in State. - Sec. 908. The department of attorney general may bring an...
Section 449.1909 - Activities Not Considered to Be Transacting Business in State. - Sec. 909. (a) Without excluding other activities which may not...
Section 449.1910 - Making or Participating in Certain Loans Without Registering in State. - Sec. 910. A foreign limited partnership may acquire or, through...
Article 10 - (449.2001...449.2005)
Section 449.2001 - Limited Partner; Right to Bring Action to Recover Judgment. - Sec. 1001. A limited partner may bring an action in...
Section 449.2002 - Status of Plaintiff in Derivative Action. - Sec. 1002. In a derivative action, the plaintiff must be...
Section 449.2003 - Complaint in Derivative Action; Contents. - Sec. 1003. In a derivative action, the complaint shall set...
Section 449.2004 - Discontinuance, Compromise, or Settlement of Derivative Action; Court Approval; Notice; Costs. - Sec. 1004. An action authorized by section 1001 shall not...
Section 449.2005 - Awarding Expenses to Plaintiff in Successful Derivative Action; Remittance to Limited Partnership of Remainder of Proceeds; Exception; Action Brought Without Reasonable Cause; Payment of Defendants' Expenses by Plaintiff. - Sec. 1005. (a) If a derivative action is successful, in...
Article 11 - (449.2101...449.2108)
Section 449.2101 - Application and Construction of Act. - Sec. 1101. This act shall be so applied and construed...
Section 449.2102 - Short Title. - Sec. 1102. This act shall be known and may be...
Section 449.2103 - Severability. - Sec. 1103. If any provision of this act or its...
Section 449.2104 - Effective Date; Repeal of MCL 449.201 to 449.231. - Sec. 1104. The effective date of this act is January...
Section 449.2105 - Effect of Act on Existing Limited Partnerships. - Sec. 1105. (a) A limited partnership formed under any other...
Section 449.2106 - Case Not Provided for in Act Governed by MCL 449.1 to 449.43. - Sec. 1106. In any case not provided for in this...
Section 449.2107 - Fee Schedule; Payment; Other Charges; Deposit and Use of Fees. - Sec. 1107. (a) The fees to be paid to the...
Section 449.2108 - Effective Date. - Sec. 1108. This act shall take effect January 1, 1983....