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The Annotated Code of the Public General Laws of Maryland, 1939
Volume 379, Page 2035   View pdf image (33K)
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INSOLVENTS 2035

ship, and the net proceeds of the separate estate of each partner shall be
appropriated to pay his separate creditors; if there is any balance of the
separate estate of any partner after the payment of his separate debts,
such balance shall be added to the joint stock for the payment of the joint
creditors; and if there is any balance of the joint stock after payment of the
joint debts, such balance shall be appropriated to and divided among the
separate estates of the several partners according to their respective rights
and interest therein, and as it would have been if the partnership had been
dissolved without any insolvency; and the sum so appropriated to the
separate estate of each partner shall be applied to the payment of his sep-
arate debts; the discharge shall be granted or refused to each partner as
the same would or ought to be if the proceedings had been against him
alone; in all other respects the proceedings by or against partners shall be
conducted in like manner as if they had been commenced and conducted
by or against one person alone; all the provisions of this article which
apply to the debtor, or set forth his duties in regard to furnishing schedules
or inventories, executing papers, submitting to examinations, disclosing,
making over, secreting, concealing, conveying, assigning or paying away
his money or property, shall in a like manner, and with like force, effect
and penalties, apply to each and every member of said copartnership, and
the money and property thereof; all payments, conveyances and assign-
ments and preferences declared fraudulent and void by this article when
made by a debtor shall in like manner and to the like extent and like reme-
dies be fraudulent and void when made by a copartnership; when limited
partnerships are subject to insolvency proceedings, the separate estates and
the separate debts of the special partners shall not be subject to such pro-
ceedings.

The petition must be filed in the name of the partners; a proceeding in the firm
name alone (without the individuals who compose it), is unknown in the law. The
object and scope of this section—it contemplates a surrender of all joint and separate
property, and where one partner has absconded, the remaining partner cannot file
petition in name of partnership. Second Natl. Bank v. Willing, 66 Md, 316.

This section apparently grew out of the decision in Cator v. Martin, 57 Md. 397.
And see Pinckney v. Lanahan, 62 Md. 454 (involving the adjudication of a surviving
partner); Schiff v. Solomon, 57 Md. 581.

An. Code, 1924, sec. 29. 1912, sec. 29. 1904, sec. 29. 1888, sec. 29. 1884, ch. 295, sec. 30.

31. Where a person proceeded against in insolvency shall depart from
or be absent from this State, or conceal himself to avoid service of process,
the court in which such proceedings are pending shall have the same power
to affect said persons, or their estates as is now given in suits in chancery
against non-residents, or against persons who may be proceeded against as
non-residents, except that the insolvent court shall fix the time of notice by
publication, in its discretion; and where personal service has been made
upon a party outside the State, it shall have like discretion in setting said
petitions or other matters for hearing; but when a copartnership is the sub-
ject of such proceedings, and a member of the firm is absent or returned
non est, such proceedings shall be stayed only as to the separate estate and
separate debts of such member.

An. Code, 1924, sec. 30. 1912, sec. 30. 1904, sec. 30. 1888, sec. 30. 1884, ch. 295, sec. 31.

32. Any person who has been or shall hereafter be adjudicated an
insolvent under the provisions of section 25 of this article, and who, having
actual notice of such adjudication, shall not, within five days after such


 

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The Annotated Code of the Public General Laws of Maryland, 1939
Volume 379, Page 2035   View pdf image (33K)
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