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 449.17 - Incoming partner; liability.
UNIFORM PARTNERSHIP ACT (EXCERPT)Act 72 of 1917
449.17 Incoming partner; liability.
Sec. 17.
(Liability of incoming partner). A person admitted as a partner into an existing partnership is liable for all the obligations of the partnership arising before his admission as though he had been a partner when such obligations were incurred, except that this liability shall be satisfied only out of partnership property.
History: 1917, Act 72, Eff. Aug. 10, 1917
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CL 1929, 9857
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CL 1948, 449.17
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