Sec. 601. Except as provided in this article, a partner is entitled to receive distributions from a limited partnership before the partner's withdrawal from the limited partnership and before the dissolution and winding up of the limited partnership: (1) To the extent and at the times or upon the happening of the events specified in the partnership agreement. (2) If any distribution to a limited partner constitutes a return of any part of the limited partner's contribution under section 608(c), to the extent and at the times or upon the happening of the events specified in the certificate of limited partnership.
Mich. Comp. Laws § 449.1601
Right of partner to receive distributions before partner's withdrawal from partnership and before dissolution and winding up of partnership
1982, Act 213, Eff
Official source: Michigan Legislature. Reproduced from public-domain Michigan statutes; confirm against the official source for the current text. Not legal advice.