SENATE BILL No. 748

 

 

September 30, 2003, Introduced by Senators TOY and CLARKE and referred to the Committee on Commerce and Labor.

 

 

        

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                 A bill to amend 1982 PA 213, entitled                                             

                                                                                

    "Michigan revised uniform limited partnership act,"                         

                                                                                

    by amending section 102 (MCL 449.1102) and by adding section                

                                                                                

    211.                                                                        

                                                                                

                THE PEOPLE OF THE STATE OF MICHIGAN ENACT:                      

                                                                                

1       Sec. 102.  The name of  each  a limited partnership  as  set                

                                                                                

2   forth in its certificate of limited partnership shall conform to            

                                                                                

3   all of the following:                                                       

                                                                                

4       (1) Shall contain without abbreviation the words "limited                   

                                                                                

5   partnership".                                                               

                                                                                

6       (2) May not contain the name of a limited partner unless 1 of               

                                                                                

7   the following applies:                                                      

                                                                                

8                                                                                (i)  the  The name is also the name of a general partner or                          

                                                                                

9   the corporate name of a corporate general partner.  , or                    

                                                                                

10      (ii)  the  The business of the limited partnership had been                  

                                                                                


                                                                                

1   carried on under that name before the admission of that limited             

                                                                                

2   partner.                                                                    

                                                                                

3       (3) May not contain any word or phrase indicating or implying               

                                                                                

4   that it is organized other than for a purpose stated in its                 

                                                                                

5   certificate of limited partnership.                                         

                                                                                

6       (4) Shall  be such as to  distinguish  it  the name upon the                

                                                                                

7   records in the office of the administrator from all of the                  

                                                                                

8   following:                                                                  

                                                                                

9                                                                                (i)  the  The name of each other domestic limited                                    

                                                                                

10  partnership.  ,                                                             

                                                                                

11      (ii)  the  The name of each foreign limited partnership                      

                                                                                

12  authorized to transact business in this state and the name under            

                                                                                

13  which  each such  that foreign limited partnership has registered           

                                                                                

14  in this state.  ,                                                           

                                                                                

15      (iii)  each  Each name currently reserved under section 103                  

                                                                                

16  or assumed under section 104.  ,                                            

                                                                                

17      (iv)  the  The name of each domestic corporation and each                    

                                                                                

18  foreign corporation authorized to transact business in this                 

                                                                                

19  state.  , and                                                               

                                                                                

20      (v)  each  Each corporate name currently reserved or                        

                                                                                

21  registered under the business corporation act,  Act No. 284 of              

                                                                                

22  the Public Acts of 1972, as amended, being sections 450.1101 to             

                                                                                

23  450.2099 of the Michigan Compiled Laws  1972 PA 284, MCL 450.1101           

                                                                                

24  to 450.2098, or a predecessor act and each corporate name assumed           

                                                                                

25  under section 217 of the business corporation act,  Act No. 284             

                                                                                

26  of the Public Acts of 1972, as amended, being section 450.1217 of           

                                                                                

27  the Michigan Compiled Laws  1972 PA 284, MCL 450.1217.                      


                                                                                

1       (vi) The name of each domestic limited liability company that                

                                                                                

2   is in good standing and each foreign limited liability company              

                                                                                

3   authorized to transact business in this state that is in good               

                                                                                

4   standing.                                                                   

                                                                                

5       (vii) Each limited liability company name currently reserved                 

                                                                                

6   and each name assumed under the Michigan limited liability                  

                                                                                

7   company act, 1993 PA 23, MCL 450.4101 to 450.5200.                          

                                                                                

8       (5) May not contain the words "corporation" or "incorporated"               

                                                                                

9   or any abbreviation or derivative  thereof  of those words.                 

                                                                                

10      Sec. 211.  A domestic limited partnership may convert to a                  

                                                                                

11  limited liability company under section 707 of the Michigan                 

                                                                                

12  limited liability company act, 1993 PA 23, MCL 450.4707.                    

                                                                                

13      Enacting section 1.  This amendatory act does not take                      

                                                                                

14  effect unless all of the following bills of the 92nd Legislature            

                                                                                

15  are enacted into law:                                                       

                                                                                

16      (a) Senate Bill No. 745.                       ________                     

                                                                                

17                                                                              

                                                                                

18      (b) Senate Bill No. 746.                       ________                     

                                                                                

19                                                                              

                                                                                

20      (c) Senate Bill No. 747.                       ________                     

                                                                                

21