3046                                    LAWS OF MARYLAND                                 Ch. 801

(B) ALLOCABLE SHARE. THE ALLOCABLE SHARE OF THE
PROFITS, LOSSES, AND DISTRIBUTIONS OF A GENERAL PARTNER WHO
BECOMES A LIMITED PARTNER UNDER THIS SECTION IS THE SAME AS
IT WAS PRIOR TO THE EVENT SPECIFIED IN SUBSECTION (A) OF
THIS SECTION.

COMMENT

This section is derived from § 10-119 of the previous
Limited Partnership Act (§ 20 of the prior uniform law), but
the concept of giving the successor in interest to a general
partner the status of a limited partner under the
circumstances described in this section is new. Nothing in
this section is intended to affect any liability a former
general partner may have in respect of the period in which
he was a general partner. The presumption of § 10-119 of
the previous Limited Partnership Act (§ 20 of the prior
uniform law) that dissolution would occur in the event of a
general partner's withdrawal unless a certificate provided
otherwise or other plans were consented to by all the
partners is found in § 10-801 of this title. § 10-120 of
the previous Limited Partnership Act (§ 21 of the prior
uniform law), which made a deceased limited partner's estate
liable for his liabilities as a limited partner and gave his
personal representative all the rights of a limited partner
was deleted as superfluous, with no intention of changing
the liability of the estate.

10-705. RIGHTS OF CREDITOR.

ON APPLICATION TO A COURT OF COMPETENT JURISDICTION BY
ANY JUDGMENT CREDITOR OF A PARTNER, THE COURT MAY CHARGE THE
PARTNERSHIP INTEREST OF THE PARTNER WITH PAYMENT OF THE
UNSATISFIED AMOUNT OF THE JUDGMENT WITH INTEREST. TO THE
EXTENT SO CHARGED, THE JUDGMENT CREDITOR HAS ONLY THE RIGHTS
OF AN ASSIGNEE OF THE PARTNERSHIP INTEREST. THIS TITLE DOES
NOT DEPRIVE ANY PARTNER OF THE BENEFIT OF ANY EXEMPTION LAWS
APPLICABLE TO HIS PARTNERSHIP INTEREST.

COMMENT

This section is derived from § 10-121(a) and (d) of the
previous Limited Partnership Act (§ 22 of the prior uniform
law), but has not carried over some provisions that were
thought to be superfluous. For example, references in §
10-121(a), (b), and (c) of the previous Limited Partnership
Act (subdivisions (1), (2), and (3) of § 22 of the prior
uniform law) to specific remedies have been omitted, as has
a prohibition against discharge of the lien with partnership
property. Ordinary rules governing the remedies available
to a creditor and the fiduciary obligations of general
partners will determine those matters.

SUBTITLE 8. DISSOLUTION

10-801. EVENTS OF DISSOLUTION.