Mich. Comp. Laws § 449.1601

Current through Public Act 156 of the 2024 Legislative Session
Section 449.1601 - Right of partner to receive distributions before partner's withdrawal from partnership and before dissolution and winding up of partnership

Except as provided in this article, a partner is entitled to receive distributions from a limited partnership before the partner's withdrawal from the limited partnership and before the dissolution and winding up of the limited partnership:

(1) To the extent and at the times or upon the happening of the events specified in the partnership agreement.
(2) If any distribution to a limited partner constitutes a return of any part of the limited partner's contribution under section 608(c), to the extent and at the times or upon the happening of the events specified in the certificate of limited partnership.

MCL 449.1601

1982, Act 213, Eff. 1/1/1983 .