Sec. 108.
Except as provided in the partnership agreement, a partner may lend money to and transact other business with the limited partnership and, subject to other applicable law, has the same rights and obligations with respect to the limited partnership as a person who is not a partner.
History: 1982, Act 213, Eff. Jan. 1, 1983
Structure Michigan Compiled Laws
Act 213 of 1982 - Michigan Revised Uniform Limited Partnership Act (449.1101 - 449.2108)
Article 1 - (449.1101...449.1109)
Section 449.1101 - Definitions.
Section 449.1102 - Name of Limited Partnership; Requirements and Restrictions.
Section 449.1104 - Transacting Business Under Assumed Name; Certificate.
Section 449.1107 - Business Which May Be Carried On.
Section 449.1109 - Agreement to Pay Interest in Excess of Legal Rate; Defense of Usury Prohibited.