Michigan § 449.1101 - Definitions.
Full text of Michigan Michigan Compiled Laws § 449.1101 — Definitions., with citation guidance and answers to common questions.
§ 449.1101. Definitions.
As used in this act, unless the context otherwise requires:
“Administrator” means the chief officer of the Michigan department of commerce or his or her designated representative.
“Certificate of limited partnership” means the certificate, and the certificate as amended or restated, referred to in section 201.
“Contribution” means any cash, property, services rendered, or a promissory note or other binding obligation to contribute cash or property or to perform services, which a partner contributes to a limited partnership in the capacity of a partner.
“Event of withdrawal of a general partner” means an event that causes a person to cease to be a general partner as provided in section 402.
“Foreign limited partnership” means a partnership formed under the laws of any state other than this state and having as partners 1 or more general partners and 1 or more limited partners.
“General partner” means a person who has been admitted to a limited partnership as a general partner in accordance with the partnership agreement and named in the certificate of limited partnership as a general partner.
“Limited partner” means a person who has been admitted to a limited partnership as a limited partner in accordance with the partnership agreement and named in the certificate of limited partnership as a limited partner.
“Limited partnership” and “domestic limited partnership” means a partnership formed by 2 or more persons under the laws of this state and having 1 or more general partners and 1 or more limited partners.
“Partner” means a limited or general partner.
“Partnership agreement” means any valid agreement, written or oral, of the partners as to the affairs of a limited partnership and the conduct of its business.
“Partnership interest” means a partner's share of the profits and losses of a limited partnership and the right to receive distributions of partnership assets.
“Person” means a natural person, partnership, domestic or foreign limited partnership, trust, estate, association, or corporation, or any other legal entity.
“State” means a state, territory, or possession of the United States, the District of Columbia, or the Commonwealth of Puerto Rico.
Frequently Asked Questions About Michigan § 449.1101
What does Michigan Compiled Laws § 449.1101 cover?
Section 449.1101 ("Definitions.") is part of the Michigan Compiled Laws, the codified statutory law of Michigan. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Michigan § 449.1101?
A common citation format is "Michigan Compiled Laws § 449.1101" (Michigan). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Michigan law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Michigan official source linked on this page or consult a licensed Michigan attorney.
How does Michigan § 449.1101 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Michigan can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Michigan.