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.
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. Sec. 1005. (a) If a derivative action is successful, in whole or in part, or if anything is received by the plaintiff as a result of […]
Section 449.2101 – Application and Construction of Act.
449.2101 Application and construction of act. Sec. 1101. This act shall be so applied and construed to effectuate its general purpose to make uniform the law with respect to the subject of this act among states enacting it. History: 1982, Act 213, Eff. Jan. 1, 1983
Section 449.2102 – Short Title.
449.2102 Short title. Sec. 1102. This act shall be known and may be cited as the “Michigan revised uniform limited partnership act”. History: 1982, Act 213, Eff. Jan. 1, 1983
Section 449.2103 – Severability.
449.2103 Severability. Sec. 1103. If any provision of this act or its application to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of the act which can be given effect without the invalid provision or application, and to this end the provisions of this act are severable. […]
Section 449.1909 – Activities Not Considered to Be Transacting Business in State.
449.1909 Activities not considered to be transacting business in state. Sec. 909. (a) Without excluding other activities which may not constitute transacting business in this state, a foreign limited partnership is not considered to be transacting business in this state, for the purposes of this act, solely because it is carrying on in this state […]
Section 449.1804 – Authority to Wind Up Limited Partnership’s Affairs.
449.1804 Authority to wind up limited partnership’s affairs. Sec. 804. Except as provided in the partnership agreement, the general partners who have not wrongfully dissolved a limited partnership or, if none, the limited partners, may wind up the limited partnership’s affairs; but the circuit court of the county in which the office referred to in […]
Section 449.1805 – Distribution of Assets Upon Winding Up.
449.1805 Distribution of assets upon winding up. Sec. 805. Upon the winding up of a limited partnership, the assets shall be distributed as follows: (1) To creditors, including partners who are creditors, to the extent permitted by law, in satisfaction of liabilities of the limited partnership other than liabilities for distributions to partners under section […]
Section 449.1901 – Foreign Limited Partnership; Governing Laws; Effect of Difference Between Laws on Registration.
449.1901 Foreign limited partnership; governing laws; effect of difference between laws on registration. Sec. 901. Subject to the state constitution of 1963, (1) the laws of the state under which a foreign limited partnership is organized govern its organization and internal affairs and the liability of its limited partners, and (2) a foreign limited partnership […]
Section 449.1902 – Registration Required; Application.
449.1902 Registration required; application. Sec. 902. Before transacting business in this state, a foreign limited partnership shall register with the administrator. In order to register, a foreign limited partnership shall submit to the administrator an application for registration as a foreign limited partnership, signed and sworn to by a general partner and setting forth all […]
Section 449.1903 – Certificate of Registration; Issuance; Return to Applicant.
449.1903 Certificate of registration; issuance; return to applicant. Sec. 903. (a) If the administrator finds that an application for registration conforms to law and all requisite fees have been paid, he or she shall file in his or her office the application and issue a certificate of registration to transact business in this state. (b) […]