PARTNERSHIPS—LIMITED

2753

ARTICLE 73.

PARTNERSHIPS—LIMITED.¹

	1. Limited partnership defined.	16. Withdrawal or reduction of limited
	2. Formation.	partner's contribution.
	3. Business which may be carried on. 4. Character of limited partner's contribu-	17. Liability of limited partner to partner- ship:
	tion.	18. Nature of limited partner's interest in
	5. Name not to contain surname of	partnership. :
	limited partner. Exceptions.	19. Assignment of limited partner's inter-
	6. Liability for false statements in certifi-	est.
	cate.	20. Effect of retirement, death or insanity
	7. Limited partner not liable to creditors.	of general partner.
	8. Admission of additional limited part-	21. Death of limited partner.
	ners.	22. Rights of creditors of limited partner.
	9. Rights, powers and liabilities of gen-	23. Distribution of assets. 24. When certificate shall be cancelled or
	eral partner.	amended.
	10. Rights of limited partner. 11. Status of person erroneously believing	25. Requirements for amendment and for cancellation of certificate.
	himself limited partner.	26. Parties to actions.
	12. One person both general and limited	27. Name of article.
	partner.	28. Rules of construction.
	13. Loans and other business transactions	29. Rules for cases not provided for in this
	with limited partner.	article.
	14. Relation of partners inter se.	30. Provisions for existing limited partner-
	15. Compensation of limited partner.	ships.

An. Code, 1924, sec. 1. 19i2, sec. 1. 1918, ch. 280, sec. 1.

1. (Limited Partnership Defined.) A limited partnership is a part-
nership formed by two or more persons under the provisions of Section 2,
having as members one or more general partners and one or more limited
partners. The limited partners as such shall not be bound by the obliga-
tions of the partnership.

A limited partnership may be formed for a general banking, commission and brokerage
business in stocks, bonds and other securities. Safe Deposit Co. v. Cahn, 102 Md. 544.

For a limited partnership formed in compliance with all of the formalities pre-
scribed by this article, see Lineweaver v. Slagle, 64 Md. 480.

As to fraud in the management of special partnerships, see art. 27, sec. 257. See art.
39B, sec. 8.

See sec. 6.

¹ The entire "Limited Partnerships" article was repealed and re-enacted by the act of
1918, ch. 280. The annotations in vol. 2 of the Code of 1912 refer to the sections of this
article as they stood prior to the act of 1918, but are reproduced under the correspond-
ingly numbered sections of the new article in the hope that they may be of some use.

As to general partnerships, see art. 73A.

See footnote to sec. 30.

As to fraudulent conveyances of partnership property, see art. 39B, sec. 8.