Michigan § 449.21 - Partner; accountability as fiduciary.
Full text of Michigan Michigan Compiled Laws § 449.21 — Partner; accountability as fiduciary., with citation guidance and answers to common questions.
§ 449.21. Partner; accountability as fiduciary.
(Partner accountable as a fiduciary).
Every partner must account to the partnership for any benefit, and hold as trustee for it any profits derived by him without the consent of the other partners from any transaction connected with the formation, conduct, or liquidation of the partnership or from any use by him of its property;
This section applies also to the representatives of a deceased partner engaged in the liquidation of the affairs of the partnership as the personal representatives of the last surviving partner.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 449.21
What does Michigan Compiled Laws § 449.21 cover?
Section 449.21 ("Partner; accountability as fiduciary.") 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 § 449.21?
A common citation format is "Michigan Compiled Laws § 449.21" (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 § 449.21 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.