Michigan Laws 449.1302 – Voting rights of limited partners
Current as of: 2024 | Check for updates
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Terms Used In Michigan Laws 449.1302
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
Subject to section 303, the partnership agreement may grant to all or a specified group of the limited partners the right to vote, with or without the concurrence of the general partners, on a per capita or other basis, upon any matter.