2010 Michigan Compiled Laws
Chapter 449 - PARTNERSHIPS
Act 72 of 1917 - UNIFORM PARTNERSHIP ACT (449.1 - 449.48)
72-1917-III - PART III RELATIONS OF PARTNERS TO PERSONS DEALING WITH THE PARTNERSHIP. (449.9...449.17)
Section 449.15 - Partners; joint and severable liability.
UNIFORM PARTNERSHIP ACT (EXCERPT)Act 72 of 1917
449.15 Partners; joint and severable liability.
Sec. 15.
(Nature of partner's liability). Except as otherwise provided by section 46, all partners are liable for both of the following:
(a) Jointly and severally for everything chargeable to the partnership under sections 13 and 14.
(b) Jointly for all other debts and obligations of the partnership. However, a partner may enter into a separate obligation to perform a partnership contract.
History: 1917, Act 72, Eff. Aug. 10, 1917
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CL 1929, 9855
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CL 1948, 449.15
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Am. 1994, Act 323, Imd. Eff. Oct. 12, 1994
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