Section 449.2004 – Discontinuance, Compromise, or Settlement of Derivative Action; Court Approval; Notice; Costs.
449.2004 Discontinuance, compromise, or settlement of derivative action; court approval; notice; costs. Sec. 1004. An action authorized by section 1001 shall not be discontinued, compromised, or settled without approval by the court having jurisdiction of the action. If the court determines that the interest of the limited partners or of any class thereof will be […]
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 449.1905 – Correction of False or Inaccurate Statements in Application for Registration.
449.1905 Correction of false or inaccurate statements in application for registration. Sec. 905. If any statement in the application for registration of a foreign limited partnership was false when made or any arrangements or other facts described have changed, making the application inaccurate in any respect, the foreign limited partnership shall promptly file in the […]
Section 449.1906 – Cancellation of Registration; Effect.
449.1906 Cancellation of registration; effect. Sec. 906. A foreign limited partnership may cancel its registration by filing with the administrator a certificate of cancellation signed and sworn to by a general partner. A cancellation does not terminate the authority of the administrator to accept service of process on the foreign limited partnership with respect to […]
Section 449.1907 – Maintaining Court Action in State Before Registration Prohibited; Effect of Transacting Business in State Without Registration.
449.1907 Maintaining court action in state before registration prohibited; effect of transacting business in state without registration. Sec. 907. (a) A foreign limited partnership transacting business in this state may not maintain any action or proceeding in any court of this state until it has registered in this state. An action commenced by a foreign […]
Section 449.1908 – Action to Restrain Foreign Limited Partnership From Transacting Business in State.
449.1908 Action to restrain foreign limited partnership from transacting business in state. Sec. 908. The department of attorney general may bring an action to restrain a foreign limited partnership from transacting business in this state in violation of this article. History: 1982, Act 213, Eff. Jan. 1, 1983
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 […]