1946

LAWS OF MARYLAND

[Ch. 311

REVISOR'S NOTE: This section presently appears as
Art. 73, §4.

No changes are made.

10-105. NAME NOT TO CONTAIN SURNAME OF LIMITED PARTNER;
EXCEPTION.

THE SURNAME OF A LIMITED PARTNER SHALL NOT APPEAR
IN THE PARTNERSHIP NAME, UNLESS:

(1)    IT IS ALSO THE SURNAME OF A GENERAL PARTNER;
OR

(2)   PRIOR TO THE TIME WHEN THE LIMITED PARTNER
BECAME SUCH, THE BUSINESS HAD BEEN CARRIED ON UNDER A
NAME IN WHICH HIS SURNAME APPEARED.

REVISOR'S NOTE: This section presently appears as
Art. 73, §5(1).

The provisions of Art. 73, §5(2) are combined
with the provisions of Art. 73, §§6 and 7 and
placed in §10—106.

The only other changes are technical changes
in punctuation.

10-106. LIABILITY FOR FALSE STATEMENTS IN CERTIFICATE;
LIABILITY OF A LIMITED PARTNER.

IF THE CERTIFICATE CONTAINS A FALSE STATEMENT, ONE
WHO SUFFERS LOSS BY RELIANCE ON THE STATEMENT MAY HOLD
LIABLE ANY PARTY TO THE CERTIFICATE WHO KNEW THE
STATEMENT TO BE FALSE :

(A)(1) AT THE TIME HE SIGNED THE CERTIFICATE;
OR

(2) SUBSEQUENTLY, BUT WITHIN A SUFFICIENT
TIME BEFORE THE STATEMENT WAS RELIED UPON TO ENABLE HIM
TO CANCEL OR AMEND THE CERTIFICATE, OR TO FILE A PETITION
FOR ITS CANCELLATION OR AMENDMENT AS PROVIDED IN §10-124
OF THIS TITLE.

(B)(1) A LIMITED PARTNER SHALL NOT BECOME LIABLE AS
A GENERAL PARTNER UNLESS, IN ADDITION TO THE EXERCISE OF
HIS RIGHTS AND POWERS AS A LIMITED PARTNER, HE TAKES PART
IN THE CONTROL OF THE BUSINESS.

(2) A LIMITED PARTNER WHOSE NAME APPEARS IN A
PARTNERSHIP NAME CONTRARY TO THE PROVISIONS OF §10-105
OF THIS TITLE IS LIABLE AS A GENERAL PARTNER TO
PARTNERSHIP CREDITORS WHO EXTEND CREDIT TO THE