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LAWS OF MARYLAND.
and without partiality or prejudice execute the duty of a
judge in the election of trustees now about to be holden. |
87
Dec. Ses. 1825. |
2. And be it enacted, That the trustees
who may and shall be
elected in virtue of this act, shall be and are hereby declared
successors to the present trustees of the Franklin academy in
Baltimore county, and as such entitled to all their privileges and
subject to their obligations, with authority to claim and receive
the books, records, monies, dues and effects of all and every
kind or description thereunto belonging; and they are hereby
required to pay out of said avails, the debts contracted by and
due from their predecessors to other persons; and further, they
shall in all respects be governed by the provisions of the original
act and supplement, to which this is an additional supplement,
so far as the same are not inconsistent herewith; and all
such parts of said original act and supplement as may be inconsistent
with the foregoing provisions, are hereby repealed. |
Powers, duties,
&c. |
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CHAPTER 113.
An
act to authorise limited partnerships within this state. |
Passed Feb.
24, 1826. |
Sec. 1. Be it enacted by the General Assembly
of Maryland,
That it shall and may be hereafter be lawful to form limited co-partnerships
for the transaction of business within this state,
according to the provisions of this act: Provided, that nothing
herein contained shall be so construed as to authorise such partnerships
for any banking purpose whatsoever, or for any business
or concern connected with insurance. |
Limited partnerships
authorised. |
2. And be it enacted, That partnerships
to be formed under
this act, shall consist of one or more partners severally and
jointly responsible as the case may be according to the existing
laws and rules of law on that subject, who shall be called general
partners and one or more partners who furnish certain funds
for capital in the common stock whose liability shall not extend
further than the fund which he or they have furnished to the
partnership stock and shall be called special partners. |
General and
special partners. |
3. And be it enacted, That such partnership
shall be conducted
under a name or firm consisting of all the names of all
the partners interested, excepting special partners. |
Name of the
firm. |
4. And be it enacted, That no special
partner shall transact
any business on account of the partnership, nor be employed for
that purpose, as agent, attorney or otherwise, under the penalty
of being liable as a general partner: Provided, That this
section
shall not be construed to prevent the special partners from examining
into the state and progress of the partnership concern and
advising as to its management. |
Special partners
restricted. |
5. And be it enacted, That before any
partnership under this
act, shall be carried into effect, the name or firm under which the
same is to be conducted; and the names of all the general and
special partners interested therein, distinguished seperately together |
Register
kept. |
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