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Code · Michigan · Chapter 449 — Partnerships

449.1108 Loans by partner and other transactions with limited partnership; rights and obligations.

70 words·~1 min read·/mi/chapter-449/449-1108

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449.1108 Loans by partner and other transactions with limited partnership; rights and obligations.
Sec. 108.
Except as provided in the partnership agreement, a partner may lend money to and transact other business with the limited partnership and, subject to other applicable law, has the same rights and obligations with respect to the limited partnership as a person who is not a partner.
History: 1982, Act 213, Eff. Jan. 1, 1983
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