§ 449.1701 Partnership interest as personal property
§ 449.1702 Partnership interest; assignment; effect
§ 449.1703 Charging partnership interest with payment of unsatisfied amount of judgment; rights of judgment creditor; exemptions
§ 449.1704 Assignee; right to become limited partner; rights, powers, restrictions, and liabilities of assignee who becomes limited partner
§ 449.1705 Effect of death or adjudication of disability of individual partner; non-individual partner; effect of dissolution or termination of corporation, trust, or other entity as partner

Terms Used In Michigan Laws > Chapter 449 > Act 213 of 1982 > Article 7

  • Administrator: means the chief officer of the Michigan department of commerce or his or her designated representative. See Michigan Laws 449.1101
  • 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
  • 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
  • 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: means the Michigan aeronautics commission. See Michigan Laws 259.481
  • 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.
  • Executor: A male person named in a will to carry out the decedent
  • 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
  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • 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
  • 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.
  • 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
  • Meteorological tower: means a structure, including all guy wires and accessory facilities, on which an anemometer is mounted for the purposes of documenting wind resources for the operation of a wind turbine generator. 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
  • Partnership interest: means a partner's share of the profits and losses of a limited partnership and the right to receive distributions of partnership assets. See Michigan Laws 449.1101
  • Person: means a natural person, partnership, domestic or foreign limited partnership, trust, estate, association, or corporation, or any other legal entity. See Michigan Laws 449.1101
  • Personal property: All property that is not real property.
  • 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
  • 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
  • state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
  • Statute: A law passed by a legislature.
  • 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
  • Utility runway: means a runway that is constructed for and intended to be used by propeller-driven aircraft with a maximum gross weight of 12,500 pounds or less. See Michigan Laws 259.481
  • Visual approach procedure: means an approach in which an aircraft on an instrument flight rules flight plan, operating in visual flight rules conditions under the control of an air traffic control authorization, may proceed to the airport of destination in visual flight rules conditions. See Michigan Laws 259.481