Section 449.1607 - Distribution; limitation.
MICHIGAN REVISED UNIFORM LIMITED PARTNERSHIP ACT (EXCERPT)
Act 213 of 1982
449.1607 Distribution; limitation.
Sec. 607.
A partner may not receive a distribution from a limited partnership to the extent that, after giving effect to the distribution, all liabilities of the limited partnership, other than liabilities to partners on account of their partnership interests, exceed the fair value of the partnership assets.
History: 1982, Act 213, Eff. Jan. 1, 1983