449.24 Partner; extent of property rights. Sec. 24. (Extent of property rights of a partner). The property rights of a partner are (1) his rights in specific partnership property, (2) his interest in the partnership, and (3) his right to participate in the management. History: 1917, Act 72, Eff. Aug. 10, 1917 ;– CL 1929, […]
449.25 Partner; rights in specific partnership property. Sec. 25. (Nature of a partner’s right in specific partnership property). (1) A partner is a co-owner with his partners of specific partnership property holding as a tenant in partnership; (2) The incidents of this tenancy are such that: (a) A partner, subject to the provisions of this […]
449.26 Partner; interest in partnership as personal property. Sec. 26. (Nature of partner’s interest in the partnership). A partner’s interest in the partnership is his share of the profits and surplus, and the same is personal property. History: 1917, Act 72, Eff. Aug. 10, 1917 ;– CL 1929, 9866 ;– CL 1948, 449.26
449.27 Partner’s interest; assignment, effect. Sec. 27. (Assignment of partner’s interest). (1) A conveyance by a partner of his interest in the partnership does not of itself dissolve the partnership, nor, as against the other partners in the absence of agreement, entitle the assignee, during the continuance of the partnership, to interfere in the management […]
449.28 Partner’s interest; subject to charging order. Sec. 28. (Partner’s interest subject to charging order). (1) On due application to a competent court by any judgment creditor of a partner, the court which entered the judgment, order, or decree, or any other court, may charge the interest of the debtor partner with payment of the […]
