Michigan Compiled Laws Act 191 Of 1877 Partnership Associations (449.301 - 449.316)

• Section 449.301 Partnership Associations; Formation; Capital Stock; Articles Of Association, Contents, Recording, Certification.
  When any 3 or more persons may desire to form a partnership association, for the purpose of conducting any lawful business or occupation within...
• Section 449.302 Partnership Associations; Liability Of Members; Labor Debts.
  The members of any such partnership association shall not be liable under any judgment, decree, or order which shall be obtained against such association,...
• Section 449.303 Partnership Associations; Limited As Last Word In Name; Effect Of Omission.
  The word “limited” shall be the last word of the name of every partnership association formed under the provisions of this act; and every...
• Section 449.304 Partnership Associations; Interest, Transfer; Death Of Member, Effect; Scope, Limitation.
  Interest in said association shall be personal estate, and may be transferred under such rules and regulations as the association may prescribe, but no...
• Section 449.305 Partnership Associations; Meetings, Notice; Managers; Debts And Liabilities; Rules.
  There shall be at least 1 meeting of the members of the association in each year, written notice of which shall be duly served...
• Section 449.306 Partnership Associations; Division Of Profits, Impairment Of Capital.
  The association may, from time to time, divide the profits of its business in such manner and in such an amount as a majority...
• Section 449.307 Partnership Associations; Loan Of Credit, Name Or Capital, Interest.
  It shall not be lawful for such association to loan its credit, its name, or its capital to any member of said association, and...
• Section 449.308 Partnership Associations; Dissolution, Conditions.
  Such association may be dissolved: First, Whenever the period fixed for the duration of the association expires. Second, Whenever, by vote of a majority...
• Section 449.309 Partnership Associations; Dissolution, Distribution Of Property.
  When any such partnership association shall be dissolved by the voluntary action thereof, its property shall be applied and distributed as follows: First, To...
• Section 449.310 Partnership Associations; Real Estate, Ownership And Conveyance; Service Of Process.
  All real estate owned or purchased by any association, created under and by virtue of this act, shall be held and owned and conveyance...
• Section 449.311 Saving Clause.
  That no amendment, modification, or repeal of this act shall affect anything duly done, right acquired, liability incurred or penalty, forfeiture or other punishment...
• Section 449.312 Partnership Associations; Franchise Fee To Accompany Articles Of Association; Void Contracts; Specific Tax.
  Every such partnership association organized after this act takes effect, shall at the time of recording its statement in writing, or articles of association,...
• Section 449.313 Partnership Associations; Annual Report; Time, Contents, Blanks, Examination, Filing; Failure, Duties Of Attorney General; Dissolution Notice; Penalties, Collection.
  Every partnership association heretofore or hereafter organized under this act shall annually, in the month of January or February, make duplicate reports for the...
• Section 449.314 Existing Associations; Articles, Filing; Penalty; Franchise Fee.
  Every partnership association heretofore organized, is required to file a copy of its statement in writing or articles of association, verified by the oath...
• Section 449.315 Existing Associations; Articles, Amendment, Procedure; Evidence.
  Every association organized or existing under the provisions of this act may, at any annual meeting or any meeting duly called for that purpose...
• Section 449.316 Existing Associations; Reorganization As Corporation, Procedure; Franchise Fee; Period Of Existence.
  Every partnership association now existing, organized under Act No. 191 of the Public Acts of 1877, as amended, being chapter 160 of the Compiled...

Last modified: October 10, 2016