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Sec. 501. The contribution of a partner may be in cash, property, or services rendered, or a promissory note or other obligation to contribute cash or property or to perform services. History: 1982, Act 213, Eff. Jan. 1, 1983
Structure Michigan Compiled Laws
Michigan Compiled Laws
Chapter 449 - Partnerships
Act 213 of 1982 - Michigan Revised Uniform Limited Partnership Act (449.1101 - 449.2108)
Article 5 - (449.1501...449.1504)
Section 449.1501 - Contribution of Partner, Form.
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.
Section 449.1503 - Allocation of Profits and Losses Among Partners; Determining Value of Contributions.
Section 449.1504 - Allocation of Cash and Other Assets Among Partners; Determining Value of Contributions.