Partnership; Definition; Effect of Act as to Prior and Limited Partnerships - Mich. Comp. Laws Section 449.6
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Michigan Laws > Partnerships > Partnership; Definition; Effect of Act as to Prior and Limited Partnerships - Mich. Comp. Laws Section 449.6
449.6 Partnership; definition; effect of act as to prior and limited partnerships.
Sec. 6.
(Partnership defined).
(1) A partnership is an association of 2 or more persons, which may consist of husband and wife, to carry on as co-owners a business for profit; any partnership heretofore established consisting of husband and wife only, formed since January 10, 1942 shall constitute a valid partnership.
(2) But any association formed under any other statute of this state, or any statute adopted by authority, other than the authority of this state, is not a partnership under this act, unless such association would have been a partnership in this state prior to the adoption of this act; but this act shall apply to limited partnerships except in so far as the statutes relating to such partnerships are inconsistent herewith.
History: 1917, Act 72, Eff. Aug. 10, 1917
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CL 1929, 9846
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Am. 1941, Act 272, Eff. Jan. 10, 1942
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CL 1948, 449.6
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Am. 1957, Act 59, Eff. Sept. 27, 1957
Section: 449.1 449.2 449.3 449.4 449.5 449.6 449.7 449.8 449.9 449.10 449.11 449.12 449.13 449.14 449.15
Last modified: March 17, 2013
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