Michigan Compiled Laws 72-1917-vi Part VI Dissolution And Winding Up. (449.29...449.48)

• Section 449.29 Dissolution Of Partnership; Definition.
  (Dissolution defined). The dissolution of a partnership is the change in the relation of the partners caused by any partner ceasing to be associated...
• Section 449.30 Dissolution; Partnership Not Terminated.
  (Partnership not terminated by dissolution). On dissolution the partnership is not terminated, but continues until the winding up of partnership affairs is completed. History:...
• Section 449.31 Dissolution; Causes.
  (Causes of dissolution). Dissolution is caused: (1) Without violation of the agreement between the partners: (a) By the termination of the definite term or...
• Section 449.32 Dissolution; Decree Of Court.
  (Dissolution by decree of court). (1) On application by or for a partner the court shall decree a dissolution whenever: (a) A partner has...
• Section 449.33 Dissolution; Effect As To Authority Of Partner.
  (General effect of dissolution on authority of partner). Except so far as may be necessary to wind up partnership affairs or to complete transactions...
• Section 449.34 Dissolution; Liability Of Partner.
  (Right of partner to contribution from copartners after dissolution). Except as otherwise provided by section 46, if dissolution is caused by the act, death,...
• Section 449.35 Dissolution; Power Of Partner To Bind Partnership.
  (Power of partner to bind partnership to third persons after dissolution). (1) After dissolution a partner can bind the partnership except as provided in...
• Section 449.36 Dissolution; Effect As To Partner's Existing Liability.
  (Effect of dissolution on partner's existing liability). (1) The dissolution of the partnership does not discharge the existing liability of any partner. (2) A...
• Section 449.37 Dissolution; Rights Of Partner To Wind Up Partnership Affairs.
  (Right to wind up). Unless otherwise agreed, the partners who have not wrongfully dissolved the partnership or the legal representative of the last surviving...
• Section 449.38 Dissolution; Rights Of Partner To Application Of Partnership Property.
  (Rights of partners to application of partnership property). (1) When dissolution is caused in any way, except in contravention of the partnership agreement, each...
• Section 449.39 Dissolution; Rights Of Partner When Partnership Dissolved For Fraud Or Misrepresentation.
  (Rights where partnership is dissolved for fraud or misrepresentation). Where a partnership contract is rescinded on the ground of the fraud or misrepresentation of...
• Section 449.40 Dissolution; Rules For Distribution Of Assets And Liabilities.
  (Rules for distribution). In settling accounts between the partners after dissolution, the following rules shall be observed, subject to any agreement to the contrary:...
• Section 449.41 Dissolution; Liability Of Persons Continuing Business.
  (Liability of persons continuing the business in certain cases). (1) When any new partner is admitted into an existing partnership, or when any partner...
• Section 449.42 Dissolution; Rights Of Retiring Or Deceased Partner When Business Continued.
  (Rights of retiring or estate of deceased partner when the business is continued). When any partner retires or dies, and the business is continued...
• Section 449.43 Dissolution; Accrual Of Rights.
  (Accrual of actions). The right to an account of his interest shall accrue to any partner, or his legal representative, as against the winding...
• Section 449.44 Limited Liability Partnership; Registration Procedures.
  (1) A partnership may organize as a limited liability partnership by filing with the department on a form provided by the department a registration...
• Section 449.45 Registered Limited Liability Partnership; Name.
  The name of a registered limited liability partnership shall contain the words “limited liability partnership” or the abbreviation “L.L.P.” or “LLP” as the last...
• Section 449.46 Registered Limited Liability Partnership; Liability Of Partner.
  (1) Except for a tax obligation of the partnership, a partner of a registered limited liability partnership is not liable directly or indirectly, including...
• Section 449.47 Foreign Limited Liability Partnership.
  (1) A registered limited liability partnership formed under the laws of another state, territory, district, or possession of the United States or another country...
• Section 449.48 Registration Or Renewal For Limited Liability Partnership; Filing.
  (1) The registration or renewal of a registration for a limited liability partnership shall be filed by delivering the registration to the department together...

Last modified: October 10, 2016