Mich. Comp. Laws § 449.33

Current through Public Act 156 of the 2024 Legislative Session

Section 449.33 - Dissolution; effect as to authority of partner

(General effect of dissolution on authority of partner). Except so far as may be necessary to wind up partnership affairs or to complete transactions begun but not then finished, dissolution terminates all authority of any partner to act for the partnership:

(1) With respect to the partners:

(a) When the dissolution is not by the act, bankruptcy or death of a partner, or

(b) When the dissolution is by such act, bankruptcy or death of a partner, in cases where section 34 so requires;

(2) With respect to persons not partners, as declared in section 35.

MCL 449.33

1917, Act 72, Eff. 8/10/1917 ;--CL 1929, 9873 ;--CL 1948, 449.33.