HARRY HUGHES, Governor

3055

IF A DERIVATIVE ACTION IS SUCCESSFUL, IN WHOLE OR IN
PART, OR IF ANYTHING IS RECEIVED BY THE PLAINTIFF AS A
RESULT OF A JUDGMENT, COMPROMISE, OR SETTLEMENT OF AN ACTION
OR CLAIM, THE COURT MAY AWARD THE PLAINTIFF REASONABLE
EXPENSES, INCLUDING REASONABLE ATTORNEY'S FEES, AND SHALL
DIRECT HIM TO REMIT TO THE LIMITED PARTNERSHIP THE REMAINDER
OF THOSE PROCEEDS RECEIVED BY HIM.

COMMENT

This section is new.

SUBTITLE 11. MISCELLANEOUS

10-1101. CONSTRUCTION AND APPLICATION.

THIS TITLE SHALL BE APPLIED AND CONSTRUED SO AS TO
EFFECTUATE ITS GENERAL PURPOSE TO MAKE UNIFORM THE LAW WITH
RESPECT TO THE SUBJECT OF THIS TITLE AMONG STATES ENACTING

IT.

10-1102. SHORT TITLE.

THIS TITLE MAY BE CITED AS THE MARYLAND REVISED UNIFORM
LIMITED PARTNERSHIP ACT.

10-1103. SEVERABILITY.

IF ANY PROVISION OF THIS TITLE OR ITS APPLICATION TO
ANY PERSON OR CIRCUMSTANCE IS HELD INVALID, THE INVALIDITY
DOES NOT AFFECT OTHER PROVISIONS OR APPLICATIONS OF THE
TITLE WHICH CAN BE GIVEN EFFECT WITHOUT THE INVALID
PROVISION OR APPLICATION, AND TO THIS END THE PROVISIONS OF
THIS TITLE ARE SEVERABLE.

10-1104. EFFECTIVE DATE, EXTENDED EFFECTIVE DATE, AND
REPEAL.

EXCEPT AS PROVIDED BELOW, THE EFFECTIVE DATE OF THIS
ACT IS JULY 1, 1982, AND FORMER TITLE 10 OF THE CORPORATIONS
AND ASSOCIATIONS ARTICLE OF THE ANNOTATED CODE OF MARYLAND
(THE "MARYLAND UNIFORM LIMITED PARTNERSHIP ACT") IS
REPEALED:

(1)  ALL LIMITED PARTNERSHIPS FORMED ON OR AFTER
THE EFFECTIVE DATE SHALL BE GOVERNED BY THE PROVISIONS OF
THE MARYLAND REVISED UNIFORM LIMITED PARTNERSHIP ACT;

(2)  ALL EXISTING LIMITED PARTNERSHIPS WHICH HAVE
BEEN FORMED UNDER THE PROVISIONS OF THE MARYLAND UNIFORM
LIMITED PARTNERSHIP ACT SHALL CONTINUE TO BE GOVERNED BY THE
PROVISIONS OF THAT ACT UNTIL THE EXTENDED EFFECTIVE DATE OF
JULY 1,1985, AT WHICH TIME THOSE LIMITED PARTNERSHIPS SHALL
BE GOVERNED BY THE PROVISIONS OF THE MARYLAND REVISED
UNIFORM LIMITED PARTNERSHIP ACT;