§ 449.1601 Right of partner to receive distributions before partner’s withdrawal from partnership and before dissolution and winding up of partnership
§ 449.1602 Right of general partner to withdraw; recovery by limited partner for breach of partnership agreement
§ 449.1603 Right of limited partner to withdraw
§ 449.1604 Right of withdrawing partner to receive distribution and fair value of partnership interest
§ 449.1605 Distribution in cash or in kind
§ 449.1606 Status and remedies of partner as creditor with respect to distribution
§ 449.1607 Distribution; limitation
§ 449.1608 Limited partner; liability following return of contribution

Terms Used In Michigan Laws > Chapter 449 > Act 213 of 1982 > Article 6

  • airport: when used in this act means any location which is used for the landing or taking off of aircraft, which provides facilities for the shelter, supply or care of aircraft, or for receiving or discharging passengers or cargo, and all appurtenant areas used or acquired for airport buildings or other airport facilities, and all appurtenant rights-of-way, either heretofore or hereafter established. See Michigan Laws 259.432
  • Airport: means a structure or an area of land or water that is designed and set aside for the landing and taking off of aircraft, is utilized or to be utilized by and in the interest of the public for the landing and taking off of aircraft, and is licensed by the commission. See Michigan Laws 259.481
  • airport hazard: when used in this act means any structure or tree or use of land or of appurtenances thereof which obstructs the air space required for the safe flight of aircraft in landing or taking off at an airport or is otherwise hazardous or creates hazards to such safe landing or taking off of aircraft. See Michigan Laws 259.433
  • Anemometer: means an instrument for measuring and recording the speed of wind. See Michigan Laws 259.481
  • Approach surface: means an imaginary plane longitudinally centered on a runway's centerline extended, and extending outward and upward from each end of that runway's primary surface, which plane has the specifications described in section 2c. See Michigan Laws 259.481
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Certificate of limited partnership: means the certificate, and the certificate as amended or restated, referred to in section 201. See Michigan Laws 449.1101
  • commission: when used in this act means the Michigan aeronautics commission, or any successor thereto established by law. See Michigan Laws 259.435
  • Commission: means the Michigan aeronautics commission. See Michigan Laws 259.481
  • Conical surface: means an imaginary plane extending outward and upward from the perimeter of a runway's horizontal surface at 1 of the following slopes, as applicable:
  (i) If the airport at which the runway is located has a published instrument approach procedure, at a slope of 50 to 1. See Michigan Laws 259.481
  • 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. See Michigan Laws 449.1101
  • Conviction: A judgement of guilt against a criminal defendant.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • FAA: means the Federal Aviation Administration or a successor agency to the Federal Aviation Administration. See Michigan Laws 259.481
  • 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. See Michigan Laws 449.1101
  • Heliport approach surface: means an imaginary plane projecting outward and upward from the perimeter of a heliport primary surface at a slope of 8 to 1. See Michigan Laws 259.481
  • Heliport primary surface: means an imaginary plane that is at the elevation established for a heliport coinciding in size and shape with the designated takeoff and landing area of that heliport. See Michigan Laws 259.481
  • Horizontal surface: means an imaginary horizontal plane 150 feet above the elevation established for an airport, the perimeter of which plane is constructed as described in section 2e. See Michigan Laws 259.481
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • 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. See Michigan Laws 449.1101
  • Minimum obstruction clearance altitude: means the lowest FAA published altitude that assures acceptable navigational signal coverage and that is in effect between radio fixes on a low altitude airway, on an off-airway route, or, if the altitude meets obstacle clearance requirements for the entire route segment, on a route segment. See Michigan Laws 259.481
  • Partner: means a limited or general partner. See Michigan Laws 449.1101
  • 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.
  • 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. See Michigan Laws 449.1101
  • Permit: means a permit issued by the commission under this act. See Michigan Laws 259.481
  • person: when used in this act means any individual, firm, partnership, corporation, company, association, joint stock association, municipal corporation or other body politic; and includes any trustee, receiver, assignee, or other similar representative thereof. See Michigan Laws 259.437
  • Person: means an individual, firm, partnership, corporation, association, or body politic. See Michigan Laws 259.481
  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • political subdivision: when used in this act means any county, city, village or township of this state, and any other political subdivision, public corporation, authority, or district in this state which is or may hereafter be authorized by law to construct, enlarge, improve, maintain, equip, operate and regulate airports. See Michigan Laws 259.436
  • Primary surface: means an imaginary plane longitudinally centered on a runway, which plane has the specifications described in section 2b. See Michigan Laws 259.481
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Runway: means the portion of an airport designated as either of the following:
  •   (i) An area used for the landing or takeoff of aircraft. See Michigan Laws 259.481
  • shall not apply: means that the pertinent provision is not operative as to certain persons or things or in conjunction with a particular date or dates. See Michigan Laws 8.4c
  • State: means a state, territory, or possession of the United States, the District of Columbia, or the Commonwealth of Puerto Rico. See Michigan Laws 449.1101
  • state: when used in this act means the state of Michigan. See Michigan Laws 259.438
  • structure: when used in this act means any object constructed or installed by man, including, but without limitation, buildings, towers, smoke stacks and overhead transmission lines, but not including highways and their appurtenances. See Michigan Laws 259.439
  • Structure: means an object constructed or installed, including, but not limited to, a building, tower, antenna, smokestack, or overhead transmission line. See Michigan Laws 259.481
  • Transitional surface: means an imaginary plane perpendicular to a runway centerline and to that centerline extended through the runway's primary surface and approach surface, which plane extends outward and upward from each side of the runway's primary surface and approach surface at a slope of 7 to 1 for the distances described in section 2d. See Michigan Laws 259.481
  • tree: when used in this act, means any object of natural growth. See Michigan Laws 259.440
  • Trustee: A person or institution holding and administering property in trust.
  • United States: shall be construed to include the district and territories. See Michigan Laws 8.3o
  • Writ: A formal written command, issued from the court, requiring the performance of a specific act.
  • Writ of certiorari: An order issued by the Supreme Court directing the lower court to transmit records for a case for which it will hear on appeal.