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The Annotated Code of the Public General Laws of Maryland, 1939
Volume 379, Page 2770   View pdf image (33K)
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2770 ARTICLE 73A

(b) If the right exists under the terms of any agreement,
(c) As provided by section 21,

(d) Whenever other circumstances render it just and reasonable.
See notes to sec. 18.

An. Code, 1924, sec. 23. 1912, sec. 23. 1916, ch. 175, sec. 23.

23. (Continuation of Partnership Beyond Fixed Term.) (1) When
a partnership for a fixed term or particular undertaking is continued after
the termination of such term or particular undertaking without any ex-
press agreement, the rights and duties of the partners remain the same
as they were at such termination, so far as is consistent with a partner-
ship at will.

(2) A continuation of the business by the partners or such of them as
habitually acted therein during the term, without any settlement or liqui-
dation of the partnership affairs, is prima, facie evidence of a continuation
of the partnership.

PART V.
Property Rights of a Partner.

An. Code, 1924, sec. 24. 1912, sec. 24. 1916, ch. 175, sec. 24.

24. (Extent of Property Rights of a Partner.) The property rights
of a partner are (1) his right in specific partnership property, (2) his in-
terest in the partnership, and (3) his right to participate in the manage-
ment.

An. Code, 1924, sec. 25. 1912, sec. 25. 1916, ch, 175, sec. 25.

25. (Nature of a Partner's Right in Specific Partnership Property.)

(1) A partner is co-owner with his partners of specific partnership
property holding as a tenant in partnership.

(2) The incidents of this tenancy are such that:

(a) A partner, subject to the provisions of this article and to any
agreement between the partners, has an equal right with his partners to
possess specific partnership property for partnership purposes; but he has
no right to possess such property for any other purpose without the consent
of his partners.

(b) A partner's right in specific partnership property is not assign-
able except in connection with the assignment of the rights of all the part-
ners in the same property.

(c) A partner's right in specific partnership property is not subject to
attachment or execution, except on a claim against the partnership. When
partnership property is attached for a partnership debt the partners, or
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.


 

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The Annotated Code of the Public General Laws of Maryland, 1939
Volume 379, Page 2770   View pdf image (33K)
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