Michigan Compiled Laws 213-1982-5 Article 5 (449.1501...449.1504)

• Section 449.1501 Contribution Of Partner, Form.
  The contribution of a partner may be in cash, property, or services rendered, or a promissory note or other obligation to contribute cash or...
• 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.
  (a) Except as provided in the certificate of limited partnership, a limited partner is obligated to the limited partnership to perform any promise to...
• Section 449.1503 Allocation Of Profits And Losses Among Partners; Determining Value Of Contributions.
  The profits and losses of a limited partnership shall be allocated among the partners, and among classes of partners, in the manner provided in...
• Section 449.1504 Allocation Of Cash And Other Assets Among Partners; Determining Value Of Contributions.
  Distributions of cash or other assets of a limited partnership shall be allocated among the partners, and among classes of partners, in the manner...

Last modified: October 10, 2016