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Michigan Legislature
Michigan Compiled Laws Complete Through PA 48 of 2019
House: Adjourned until Tuesday, October 22, 2019 1:30:00 PM
Senate: Adjourned until Tuesday, October 22, 2019 10:00:00 AM

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NOTE: Dates reflect any modification to item, not necessarily a change in law.

Chapter 449 - PARTNERSHIPS
Act 72 of 1917 ‑ UNIFORM PARTNERSHIP ACT (449.1 - 449.48)
     72‑1917‑I ‑ PART I PRELIMINARY PROVISIONS. (449.1...449.5)
          Section 449.1 ‑ Uniform partnership act; short title.
          Section 449.2 ‑ Uniform partnership act; definitions.
          Section 449.3 ‑ Uniform partnership act; interpretation of knowledge and notice.
          Section 449.4 ‑ Rules of construction.
          Section 449.5 ‑ Rules for cases not provided for in act.
     72‑1917‑II ‑ PART II NATURE OF A PARTNERSHIP. (449.6...449.8)
          Section 449.6 ‑ Partnership; definition; effect of act as to prior and limited partnerships.
          Section 449.7 ‑ Rules for determining existence of partnership.
          Section 449.8 ‑ Partnership property; definition.
          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.
          Section 449.16 ‑ Partnership by estoppel; liability.
          Section 449.17 ‑ Incoming partner; liability.
     72‑1917‑IV ‑ PART IV RELATIONS OF PARTNERS TO ONE ANOTHER. (449.18...449.23)
          Section 449.18 ‑ Rules for determining rights and duties of partners.
          Section 449.19 ‑ Partnership books; location, accessibility.
          Section 449.20 ‑ Partner; duty to render information.
          Section 449.21 ‑ Partner; accountability as fiduciary.
          Section 449.22 ‑ Partner; right to formal account.
          Section 449.23 ‑ Partnership; continuation beyond fixed term.
     72‑1917‑V ‑ PART V PROPERTY RIGHTS OF A PARTNER. (449.24...449.28)
          Section 449.24 ‑ Partner; extent of property rights.
          Section 449.25 ‑ Partner; rights in specific partnership property.
          Section 449.26 ‑ Partner; interest in partnership as personal property.
          Section 449.27 ‑ Partner's interest; assignment, effect.
          Section 449.28 ‑ Partner's interest; subject to charging order.
     72‑1917‑VI ‑ PART VI DISSOLUTION AND WINDING UP. (449.29...449.48)
          Section 449.29 ‑ Dissolution of partnership; definition.
          Section 449.30 ‑ Dissolution; partnership not terminated.
          Section 449.31 ‑ Dissolution; causes.
          Section 449.32 ‑ Dissolution; decree of court.
          Section 449.33 ‑ Dissolution; effect as to authority of partner.
          Section 449.34 ‑ Dissolution; liability of partner.
          Section 449.35 ‑ Dissolution; power of partner to bind partnership.
          Section 449.36 ‑ Dissolution; effect as to partner's existing liability.
          Section 449.37 ‑ Dissolution; rights of partner to wind up partnership affairs.
          Section 449.38 ‑ Dissolution; rights of partner to application of partnership property.
          Section 449.39 ‑ Dissolution; rights of partner when partnership dissolved for fraud or misrepresentation.
          Section 449.40 ‑ Dissolution; rules for distribution of assets and liabilities.
          Section 449.41 ‑ Dissolution; liability of persons continuing business.
          Section 449.42 ‑ Dissolution; rights of retiring or deceased partner when business continued.
          Section 449.43 ‑ Dissolution; accrual of rights.
          Section 449.44 ‑ Limited liability partnership; registration procedures.
          Section 449.45 ‑ Registered limited liability partnership; name.
          Section 449.46 ‑ Registered limited liability partnership; liability of partner.
          Section 449.47 ‑ Foreign limited liability partnership.
          Section 449.48 ‑ Registration or renewal for limited liability partnership; filing.
Act 164 of 1913 ‑ COPARTNERSHIPS (449.101 - 449.106)
     Section 449.101 ‑ Copartnerships; certificate required, filing, contents.
     Section 449.101a ‑ Certificate of copartnership; signers authorized to conduct business as partners for 5 years; renewal certificate; filing, fee, forms, and duration; notice; destruction of certificate; imposition of fees by certain charter counties.
     Section 449.101b ‑ Copartnership certificate; renewal, notice.
     Section 449.102 ‑ Copartnership certificate; name change, procedure, interim effect.
     Section 449.103 ‑ Copartnership certificate; certified copy as evidence.
     Section 449.104 ‑ Copartnership certificate; filing; assumed name, rejection by county clerk.
     Section 449.104a ‑ Copartnership under assumed name; change of business location certificate, attachment.
     Section 449.104b ‑ Copartnership under assumed name; discontinuance of business certificate; use of name by others, objection.
     Section 449.105 ‑ Certificates and renewal certificates; alphabetical index; indexing and filing fee; cost of certified copies.
     Section 449.106 ‑ Violation of act; penalty; effect on validity and enforcement of contracts.
     Section 449.151 ‑ Copartnerships; settlements with creditors; discharge of partner not party.
     Section 449.152 ‑ Settlements with creditors; written discharge by creditors, bar to recovery.
     Section 449.153 ‑ Settlements with creditors; rights against undischarged partners not impaired; right to set off and defense.
     Section 449.154 ‑ Settlements with creditors; contribution between partners.
     Section 449.155 ‑ Extension of act to joint debtors.
Act 110 of 1931 ‑ Repealed-UNIFORM LIMITED PARTNERSHIP ACT (449.201 - 449.231)
Act 191 of 1877 ‑ PARTNERSHIP ASSOCIATIONS (449.301 - 449.316)
     Section 449.301 ‑ Partnership associations; formation; capital stock; articles of association, contents, recording, certification.
     Section 449.302 ‑ Partnership associations; liability of members; labor debts.
     Section 449.303 ‑ Partnership associations; limited as last word in name; effect of omission.
     Section 449.304 ‑ Partnership associations; interest, transfer; death of member, effect; scope, limitation.
     Section 449.305 ‑ Partnership associations; meetings, notice; managers; debts and liabilities; rules.
     Section 449.306 ‑ Partnership associations; division of profits, impairment of capital.
     Section 449.307 ‑ Partnership associations; loan of credit, name or capital, interest.
     Section 449.308 ‑ Partnership associations; dissolution, conditions.
     Section 449.309 ‑ Partnership associations; dissolution, distribution of property.
     Section 449.310 ‑ Partnership associations; real estate, ownership and conveyance; service of process.
     Section 449.311 ‑ Saving clause.
     Section 449.312 ‑ Partnership associations; franchise fee to accompany articles of association; void contracts; specific tax.
     Section 449.313 ‑ Partnership associations; annual report; time, contents, blanks, examination, filing; failure, duties of attorney general; dissolution notice; penalties, collection.
     Section 449.314 ‑ Existing associations; articles, filing; penalty; franchise fee.
     Section 449.315 ‑ Existing associations; articles, amendment, procedure; evidence.
     Section 449.316 ‑ Existing associations; reorganization as corporation, procedure; franchise fee; period of existence.
     Section 449.351 ‑ Partnership associations; election of managers, procedure, time, number.
Act 105 of 1919 ‑ PARTNERSHIP ASSOCIATIONS LIMITED (449.371 - 449.373)
     Section 449.371 ‑ Partnership associations limited; continuance of existence, procedure; evidence; franchise fee.
     Section 449.372 ‑ Partnership associations limited; renewal, powers conferred; articles and by-laws, amendment.
     Section 449.373 ‑ Partnership associations limited; expired term, extension.
Act 213 of 1982 ‑ MICHIGAN REVISED UNIFORM LIMITED PARTNERSHIP ACT (449.1101 - 449.2108)
     213‑1982‑1 ‑ ARTICLE 1 (449.1101...449.1109)
          Section 449.1101 ‑ Definitions.
          Section 449.1102 ‑ Name of limited partnership; requirements and restrictions.
          Section 449.1103 ‑ Name of limited partnership; reservation of exclusive right to use; application; time period; expiration; extension; transfer of right.
          Section 449.1104 ‑ Transacting business under assumed name; certificate.
          Section 449.1105 ‑ Maintenance of office and agent for service of process; resignation of agent; appointment of successor.
          Section 449.1106 ‑ Records required to be kept at office; inspection and copying by partner or representative.
          Section 449.1107 ‑ Business which may be carried on.
          Section 449.1108 ‑ Loans by partner and other transactions with limited partnership; rights and obligations.
          Section 449.1109 ‑ Agreement to pay interest in excess of legal rate; defense of usury prohibited.
     213‑1982‑2 ‑ ARTICLE 2 (449.1201...449.1210)
          Section 449.1201 ‑ Formation; certificate of limited partnership; contents; date of formation.
          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.
          Section 449.1203 ‑ Certificate of limited partnership; cancellation; contents of certificate of cancellation; effective date of cancellation.
          Section 449.1204 ‑ Manner of executing certificates.
          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.
          Section 449.1206 ‑ Documents; filing; submission; delivery; endorsement; return of copy or original; public inspection; records or files; effective date of documents; forms; fees.
          Section 449.1207 ‑ False statements in certificate; recovery of damages.
          Section 449.1208 ‑ Certificate on file as notice of matters included therein.
          Section 449.1209 ‑ Delivery of copy of certificate to limited partners upon return of certificate by administrator.
          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; surviving or new limited partnership; “business organization” and “entity” defined; merger or consolidation of domestic limited partnership with business organization.
     213‑1982‑3 ‑ ARTICLE 3 (449.1301...449.1305)
          Section 449.1301 ‑ Admission of additional limited partners.
          Section 449.1302 ‑ Voting rights of limited partners.
          Section 449.1303 ‑ Liability of limited partner for obligations of limited partnership.
          Section 449.1304 ‑ Liability of person erroneously but in good faith believing he or she is limited partner.
          Section 449.1305 ‑ Rights of limited partner.
     213‑1982‑4 ‑ ARTICLE 4 (449.1401...449.1405)
          Section 449.1401 ‑ Admission of additional general partners.
          Section 449.1402 ‑ Events causing cessation as general partner.
          Section 449.1403 ‑ General partner; rights and powers; restrictions.
          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.
          Section 449.1405 ‑ Voting rights of general partners.
     213‑1982‑5 ‑ 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.
     213‑1982‑6 ‑ 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.
          Section 449.1602 ‑ Right of general partner to withdraw; recovery by limited partner for breach of partnership agreement.
          Section 449.1603 ‑ Right of limited partner to withdraw.
          Section 449.1604 ‑ Right of withdrawing partner to receive distribution and fair value of partnership interest.
          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.
     213‑1982‑7 ‑ ARTICLE 7 (449.1701...449.1705)
          Section 449.1701 ‑ Partnership interest as personal property.
          Section 449.1702 ‑ Partnership interest; assignment; effect.
          Section 449.1703 ‑ Charging partnership interest with payment of unsatisfied amount of judgment; rights of judgment creditor; exemptions.
          Section 449.1704 ‑ Assignee; right to become limited partner; rights, powers, restrictions, and liabilities of assignee who becomes limited partner.
          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.
     213‑1982‑8 ‑ ARTICLE 8 (449.1801...449.1805)
          Section 449.1801 ‑ Dissolution of limited partnership.
          Section 449.1802 ‑ Court-ordered dissolution on application by or for partner; grounds; other relief; forwarding order of dissolution to administrator.
          Section 449.1803 ‑ Action by attorney general for dissolution; grounds; other actions.
          Section 449.1804 ‑ Authority to wind up limited partnership's affairs.
          Section 449.1805 ‑ Distribution of assets upon winding up.
     213‑1982‑9 ‑ ARTICLE 9 (449.1901...449.1910)
          Section 449.1901 ‑ Foreign limited partnership; governing laws; effect of difference between laws on registration.
          Section 449.1902 ‑ Registration required; application.
          Section 449.1903 ‑ Certificate of registration; issuance; return to applicant.
          Section 449.1904 ‑ Registration of name.
          Section 449.1905 ‑ Correction of false or inaccurate statements in application for registration.
          Section 449.1906 ‑ Cancellation of registration; effect.
          Section 449.1907 ‑ Maintaining court action in state before registration prohibited; effect of transacting business in state without registration.
          Section 449.1908 ‑ Action to restrain foreign limited partnership from transacting business in state.
          Section 449.1909 ‑ Activities not considered to be transacting business in state.
          Section 449.1910 ‑ Making or participating in certain loans without registering in state.
     213‑1982‑10 ‑ ARTICLE 10 (449.2001...449.2005)
          Section 449.2001 ‑ Limited partner; right to bring action to recover judgment.
          Section 449.2002 ‑ Status of plaintiff in derivative action.
          Section 449.2003 ‑ Complaint in derivative action; contents.
          Section 449.2004 ‑ Discontinuance, compromise, or settlement of derivative action; court approval; notice; costs.
          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.
     213‑1982‑11 ‑ ARTICLE 11 (449.2101...449.2108)
          Section 449.2101 ‑ Application and construction of act.
          Section 449.2102 ‑ Short title.
          Section 449.2103 ‑ Severability.
          Section 449.2104 ‑ Effective date; repeal of MCL 449.201 to 449.231.
          Section 449.2105 ‑ Effect of act on existing limited partnerships.
          Section 449.2106 ‑ Case not provided for in act governed by MCL 449.1 to 449.43.
          Section 449.2107 ‑ Fee schedule; payment; other charges; deposit and use of fees.
          Section 449.2108 ‑ Effective date.

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