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Session Laws, 1916
Volume 534, Page 316   View pdf image (33K)
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316 LAWS OF MARYLAND. [CH. 175

SEC. 21. (Partner Accountable as a Fiduciary. ) (1)
Every partner must account to the partnership for any benefit,
and hold as trustee for it any profits derived by him without
the consent of the other partners from any transaction con-
nected with the formation, conduct, or liquidation of the part-
nership or from any use by him of its property.

(2) This section applies also to the representatives of a
deceased partner engaged in the liquidation of the affairs of
the partnership as the personal representatives of the last sur-
viving partner.

SEC. 22. (Right to an Account. ) Any partner shall have
the right to a formal account as to partnership affairs:

(a) If he is wrongfully excluded from the partnership
business or possession of its property by his co-partners,

(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 rea-
sonable.

SEC. 23. (Continuation of Partnership Beyond Fixed
Term. ) (1) When a partnership for a fixed term or par-
ticular undertaking is continued after the termination of such
term or particular undertaking without any express agreement,
the rights and duties of the partners remain the same as they
were at such termination, so far as is consistent with a part-
nership 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 liquidation of the partnership affairs, is
prima facie, evidence of a continuation of the partnership.

PART V.
Property Rights of a Partner.

SEC. 24. (Extent of Property Rights of a Partner. ) The
property rights of a partner are (1) his rights in specific part-
nership property, (2) his interest in the partnership, and (3)
his right to participate in the management.

SEC. 25. (Nature of a Partner's Right in Specific Part-
nership Property. )

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

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

 

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Session Laws, 1916
Volume 534, Page 316   View pdf image (33K)
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