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The Annotated Code of the Public Civil Laws of Maryland, 1911
Volume 372, Page 1612   View pdf image (33K)
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1612 PARTNERSHIPS——LIMITED. [ART. 73

1904, art. 73, sec. 10. 1888, art 73, sec. 10. 1860, art. 72, sec. 10.
1836, ch. 97, sec. 10.

10. Every alteration which shall be made in the names of the part-
ners, in the nature of the business, or in the capital or shares thereof,
or in any other matter specified in the original certificate shall be
deemed a dissolution of the partnership; and every such partnership
which shall in any manner be carried on after any such alteration shall
have been made shall be deemed a general partnership, unless renewed
as a special partnership, under the provisions of the preceding section.
See note to sec. 9.

Ibid. sec. 11. 1888, art. 73, sec. 11. 1860, art. 72, sec 11. 1849, ch. 347,
sec. 1. 1888, ch. 512.

11. The business of the partnership may be conducted under the
name of any one or more of the general partners, and with or without
the addition of the word Co. or company, as the parties may determine;
and if any action or suit to be brought on any contract or engagement
of the partnership, or to enforce any liability of the same, the general
partner whose name is used in said firm or business shall be the only
necessary party defendant; and any judgment or decree recovered
against said defendant shall have the same legal effect and operation,
and execution thereon shall be enforced and have like effect as if the
judgment or decree had been recovered against all the general partners;
provided, that no such judgment shall operate as a lien upon the real
estate or chattels real of any general partner not named as a defendant
in said case to the prejudice of any bona fide purchaser without notice.
See sec. 19 and notes.

Ibid. sec. 12. 1888, art. 73, sec. 12. 1860, art. 72, sec. 12. 1836, ch. 97,
sec. 11. 1880, ch. 203.

12. With the exceptions hereinafter stated, if the name of any
special partner shall be used in the firm with his privity, he shall be
deemed a general partner, and the general partners only shall transact
the business; and if a special partner shall interfere, contrary to this
provision, he shall be deemed a general partner; but he may from time
to time examine into the state and progress of the partnership concerns
and advise as to their management; but if the word "limited" be used
as part of the firm name and if said word "limited" together with the
name of the special partner and his designation a "special partner,"
be placed upon all signs used by the partnership and be printed upon
the bills, notes, checks, letters and other papers ordinarily used by the
partnership in the course of its business, the special partner may take
part in transacting the business of the partnership without being deemed
on this account a general partner.

Ibid. sec. 13. 1888. art. 73, sec. 13. 1860, art. 72, sec. 13.
1836, ch. 97, sec. 12.

13. No part of the sum which any special partner shall have con-
tributed to the capital stock shall be withdrawn by him or paid or

 

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The Annotated Code of the Public Civil Laws of Maryland, 1911
Volume 372, Page 1612   View pdf image (33K)
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