WILLIAM T. HAMILTON, ESQUIRE, GOVERNOR. 327
|
CHAPTEE 203.
|
|
|
|
AN ACT to repeal section twelve of article seventy-
|
|
|
|
two of the Code of Public General Laws, title
|
|
|
|
" Partnerships limited," and to re-enact the same
|
|
|
|
with amendments.
|
|
|
|
SECTION 1. Be it enacted by the General Assembly
|
|
|
|
of Maryland, That section twelve of article seven-
ty-two of the Code of Public General Laws, title
|
Repealed and
re-enacted.
|
|
|
" Partnerships limited," be and the same is hereby
|
|
|
|
repealed and re-enacted to read as follows :
|
|
|
|
12. With the exceptions hereinafter stated, if the
|
|
|
|
name of any special partner shall be used in the firm
with his privity, he shall be deemed a general part-
|
|
|
|
ner, and the general partners only shall transact the
|
|
|
|
business; and if a special partner shall interfere,
|
Special part-
|
|
|
contrary to this provision, he shall be deemed a gen-
|
ners.
|
|
|
eral partner; but he may from time to time ex-
|
|
|
|
amine into the state and progress of the partnership
|
|
|
|
concerns, and advise as to their management, but if
|
|
|
|
the word "limited" be used as part of the firm
|
|
|
|
name, and if paid word " limited," together with the
|
|
|
|
name of the special partner, 'and his designation, a
|
|
|
|
" special partner," be placed upon all signs used by
|
|
|
|
the partnership, and be printed upon the bills, notes,
|
|
|
|
checks, letters and other papers ordinarily used by
|
|
|
|
the partnership in the course of its business, the
|
|
|
|
special partner may take part in transacting the
business of the partnership without being deemed on
|
|
|
|
this account a general partner.
|
|
|
|
Approved April 10, 1880.
|
|
|