Sec. 604.
Except as provided in this article, upon withdrawal any withdrawing partner is entitled to receive any distribution to which he or she is entitled under the partnership agreement and, if not otherwise provided in the agreement, the withdrawing partner is entitled to receive, within a reasonable time after withdrawal, the fair value of his or her interest in the limited partnership as of the date of withdrawal, based upon the withdrawing partner's right to share in distributions from the limited partnership.
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 6 - (449.1601...449.1608)
Section 449.1603 - Right of Limited Partner to Withdraw.
Section 449.1605 - Distribution in Cash or in Kind.
Section 449.1606 - Status and Remedies of Partner as Creditor With Respect to Distribution.
Section 449.1607 - Distribution; Limitation.
Section 449.1608 - Limited Partner; Liability Following Return of Contribution.