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The Maryland Code, Public General Laws, 1888
Volume 389, Page 1072   View pdf image
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1072 PARTNERSHIPS—LIMITED. [ART. 73.

10. Alteration in names of partners,
nature of business, or in the
capital, to be deemed a disso-
lution.

11. How business may be conducted.

12. When special partner will be lia-
ble as general partner.

13. Capital of special partner not to
be withdrawn.

14. Special partner bound to restore
withdrawn capital.

15. Transfers of copartnership prop-
erty, with intent to give prefer-
ences, to he void.

16. Transfers of property of general
or special partners, with intent
to give preferences, to be void.
17. Special partner violating sections
15 and 16, shall be liable as
general partner.
18. Creditors to be paid before special
partner.
19. How suits are to be brought by or
against partnership.
20. Proceedings where special partners
sued are found not to be liable.
21. Dissolution.
22. Partners liable to account to eaeh.
other.

P. G. L., (1860,) art. 72, sec. 1. 1836, ch. 97, sec. 1. 1880, ch. 482.

1. Limited partnerships for the transaction of any mercantile,
mechanical, manufacturing or banking business within this State,
may be formed by two or more persons, upon the terms, with the
rights and powers, and subject to the conditions and liabilities,
herein prescribed; but the provisions of this article shall not be
construed to authorize any such partnership for the purpose of
making insurance.

Ibid. sec. 2. 1836, ch. 97, sec. 2.

2. Such partnership may consist of one or more persons, who
shall be called general partners, and who shall be jointly and sev-
erally responsible as general partners are by law, and of one or
more persons who shall contribute in actual cash payments a spe-
cific sum as capital to the common stock, who shall be called
special partners, and who shall not be liable for the debts of the
partnership beyond the fund so contributed by him or them to the
capital; but the number of special partners shall, in no partner-
ship, exceed six.

Lineweaver v. Slagle, 64 Md. 465.

Ibid. sec. 3. 1836, ch. 97, sec. 3.

3. Persons desirous of forming such partnership shall make
and severally sign a certificate, which shall contain the name or
firm under which such partnership is to be conducted, the general

 

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The Maryland Code, Public General Laws, 1888
Volume 389, Page 1072   View pdf image
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