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Session Laws, 1916
Volume 534, Page 322   View pdf image (33K)
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322 LAWS OF MARYLAND. [CH. 175

SEC.. 37. (Right to Wind Up. ) Unless otherwise agreed
the partners who have not wrongfully dissolved the partnership
or the legal representative of the last surviving partner, not
bankrupt, has the right to wind up the partnership affairs;
provided, however, that any partner, his legal representative,
or his assignee, upon cause shown, may obtain winding up by
the court.

SEC. 38. (Rights of Partners to Application of Partner-
ship Property. ) (1) When dissolution is caused in any way,
except in contravention of the partnership agreement, each
partner, as against his co-partners and all persons claiming
through them in respect of their interests in the partnership,
unless otherwise agreed, may have the partnership property
applied to discharge its liabilities, and the surplus applied to
pay in cash the net amount owing to the respective partners.
But if dissolution is caused by expulsion of a partner, bona
fide under the partnership agreement, and if the expelled part-
ner is discharged from all partnership liabilities, either by pay-
ment or agreement under section 36 (2), he shall receive in
cash only the net amount due him from the partnership.

(2) When dissolution is caused in contravention of the
partnership agreement the rights of the partners shall be as
follows:

(a) Each partner who has not caused dissolution wrong-
fully shall have,

I, All the rights specified in paragraph (1) of this sec-
tion, and

II. The right, as against each partner who has caused the
dissolution wrongfully, to damages for breach of the agreement.

(b) The partners who have not caused the dissolution wrong-
fully, if they all desire to continue the business in the same
name, either by themselves or jointly with others, may do so,
during the agreed term for the partnership and for that pur-
pose may possess the partnership property, provided they se-
cure the payment by bond approved by the court, or pay to any
partner who has caused the dissolution wrongfully, the value of
his interest in the partnership at the dissolution, less any dam-
ages recoverable under clause (2a II) of this section, and in
like manner indemnify him against all present or future part-
nership liabilities.

(c) A partner who has caused the dissolution wrongfully
shall have:

 

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Session Laws, 1916
Volume 534, Page 322   View pdf image (33K)
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