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The Annotated Code of the Public General Laws of Maryland, 1924
Volume 375, Page 2328   View pdf image (33K)
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2328 ARTICLE 73A.

any of them, or the representative of a deceased partner, cannot claim
any right under the homestead or exemption laws.

(d) On the death of a partner his right in specific partnership prop-
erty vests in the surviving partner or partners, except where the deceased
was the last surviving partner, when his right in such property vests in
his legal representative. Such surviving partner or partners, or the legal
representative of the last surviving partner, has no right to possess the
partnership property for any but a partnership purpose.

(e) A partner's right in specific partnership property is not subject to
dower, curtesy, or allowances to widows, heirs, or next of kin.

An. Code, sec. 26. 1916, ch. 175, sec. 26.

26. (NATURE OF PARTNER'S INTEREST IN THE PARTNERSHIP.) A
partner's interest in the partnership is his share of the profits and surplus,
and the same is personal property.

An. Code, sec. 27. 1916, ch. 175, sec. 27.

27. (ASSIGNMENT OF PARTNER'S INTEREST.) (1) A conveyance by
a partner of his interest in the partnership does not of itself dissolve the
partnership, nor, as against the other partners in the absence of agreement,
entitle the assignee, during the continuance of the partnership, to inter-
fere in the mangement or administration of the partnership business or
affairs, or to require any information or account of partnership transac-
tions, or to inspect the partnership books; but it merely entitles the assignee
to receive in accordance with his contract the profits to which the assign-
ing partner would otherwise be entitled.

(2) In case of a dissolution of the partnership, the assignee is entitled
to receive his assignor's interest and may require an account from the
date only of the last account agreed to by all the partners.

An. Code, sec. 28. 1916, ch. 175, sec. 28.

28. (PARTNER'S INTEREST SUBJECT TO CHARGING ORDER.) (1) On
due application to a competent court of any judgment creditor of a
partner, the court which entered the judgment, order or decree, or any
other court, may charge the interest of the debtor partner with payment
of the unsatisfied amount of such judgment debt with interest thereon;
and may then or later appoint a receiver of his share of the profits, and
of any other money due or to fall due to him in respect of the partnership,
and make all other orders, directions, accounts and inquiries which the
debtor partner might have made, or which the circumstances of the case
may require.

(2) The interest charged may be redeemed at any time before fore
closure or in case of a sale being directed by the court may be purchased
without thereby causing a dissolution:

(a) With separate property, by any one or more of the partners, or

(b) With partnership property, by any one or more of the partners
with the consent of all the partners whose interests are not so charged or
sold.

 

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The Annotated Code of the Public General Laws of Maryland, 1924
Volume 375, Page 2328   View pdf image (33K)
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