Michigan Laws 449.1803 – Action by attorney general for dissolution; grounds; other actions
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(a) The department of attorney general may bring an action in the circuit court of the county in which the office referred to in section 105(a)(1) is located for dissolution of a limited partnership upon the ground that the limited partnership has committed any of the following acts:
(1) Procured its organization through fraud.
Terms Used In Michigan Laws 449.1803
- Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
- Fraud: Intentional deception resulting in injury to another.
- 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.
(2) Repeatedly and wilfully exceeded the authority conferred upon it by law.
(3) Repeatedly and wilfully conducted its business in an unlawful manner.
(b) The enumeration in this section of grounds for dissolution does not exclude any other statutory or common law action by the department of attorney general for dissolution of a limited partnership.