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Session Laws, 1975
Volume 716, Page 1944   View pdf image
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1944                                             LAWS OF MARYLAND                       [Ch. 311

STATE:

(1)   THE NAME OF THE PARTNERSHIP;

(2)   THE CHARACTER OF THE BUSINESS;

(3)   THE LOCATION OF THE PRINCIPAL PLACE OF
BUSINESS;

(4)    THE NAME AND PLACE OF RESIDENCE OF EACH
MEMBER, GENERAL AND LIMITED PARTNERS BEING RESPECTIVELY
DESIGNATED;

(5)    THE TERM FOR WHICH THE PARTNERSHIP IS TO
EXIST;

(6)   THE AMOUNT OF CASH, AND A DESCRIPTION OF
AND THE AGREED VALUE OF THE OTHER PROPERTY CONTRIBUTED BY
EACH LIMITED PARTNER;

(7)    THE     ADDITIONAL CONTRIBUTIONS, IF ANY,
AGREED TO BE MADE BY   EACH LIMITED PARTNER AND THE TIMES
AT WHICH OR EVENTS   ON THE HAPPENING OF WHICH THEY SHALL
BE MADE;

(8)    THE TIME, IF AGREED UPON, WHEN THE
CONTRIBUTION OF EACH LIMITED PARTNER IS TO BE RETURNED;

(9)    THE SHARE OF THE PROFITS OR THE OTHER
COMPENSATION BY WAY OF INCOME WHICH EACH LIMITED PARTNER
SHALL RECEIVE BY REASON OF HIS CONTRIBUTION;

(10)    THE RIGHT, IF GIVEN, OF A LIMITED
PARTNER TO SUBSTITUTE AN ASSIGNEE AS CONTRIBUTOR IN HIS
PLACE, AND THE TERMS AND CONDITIONS OF THE SUBSTITUTION;

(11)   THE RIGHT, IF GIVEN, OF THE PARTNERS TO
ADMIT ADDITIONAL LIMITED PARTNERS;

(12)    THE RIGHT, IF GIVEN, OF ONE OR MORE OF
THE LIMITED PARTNERS TO PRIORITY OVER OTHER LIMITED
PARTNERS, AS TO CONTRIBUTIONS OR AS TO COMPENSATION BY
WAY OF INCOME, AND THE NATURE OF SUCH PRIORITY;

(13)   THE SIGHT, IF GIVEN, OF THE REMAINING
GENERAL PARTNER OR PARTNERS TO CONTINUE THE BUSINESS ON
THE DEATH, RETIREMENT, OR INSANITY OF A GENERAL PARTNER;
AND

(14)    THE RIGHT, IF GIVEN, OF A LIMITED
PARTNER TO DEMAND AND RECEIVE PROPERTY OTHER THAN CASH IN
RETURN FOR HIS CONTRIBUTION.

(B) A LIMITED PARTNERSHIP IS FORMED IF THERE HAS

 

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Session Laws, 1975
Volume 716, Page 1944   View pdf image
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