Sec. 17.
(Liability of incoming partner). A person admitted as a partner into an existing partnership is liable for all the obligations of the partnership arising before his admission as though he had been a partner when such obligations were incurred, except that this liability shall be satisfied only out of partnership property.
History: 1917, Act 72, Eff. Aug. 10, 1917 ;-- CL 1929, 9857 ;-- CL 1948, 449.17
Structure Michigan Compiled Laws
Act 72 of 1917 - Uniform Partnership Act (449.1 - 449.48)
Section 449.9 - Partner as Agent of Partnership Relative to Partnership Business.
Section 449.10 - Real Property of Partnership; Conveyance of Title.
Section 449.11 - Partnership; Effect of Admission of Partner.
Section 449.12 - Partnership; Effect of Knowledge of or Notice to Partner.
Section 449.13 - Partnership; Liability for Wrongful Acts of Partner.
Section 449.14 - Partnership; Effect of Partner's Breach of Trust.
Section 449.15 - Partners; Joint and Severable Liability.