{"data":{"id":"us-mi/mich.-comp.-laws-449.306","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 449.306","heading":"Partnership associations; division of profits, impairment of capital.","body":"Sec. 6.\n\nThe association may, from time to time, divide the profits of its business in such manner and in such an amount as a majority of its managers may determine, which profits so divided shall not at the time diminish or impair the capital of the said association; and any one consenting to a dividend, which shall diminish or impair the capital, shall be liable to any person or persons interested or injured thereby to the amount of such diminution or impairment.","path":["MI Code","Chapter 449","Act Act-191-of-1877"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-449-306","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"fd27a30d9028b329b5cd74ec2d621aa767839d0a98874a9f71fac0f307bfe929","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-449.305","next":"us-mi/mich.-comp.-laws-449.307"},"notice":"GroundRules: Original legal text. Not legal advice."}