Ch. 654

1997 LAWS OF MARYLAND

(V)     OF INTEREST OR OTHER CHARGE ON A LOAN, EVEN IF THE
AMOUNT OF PAYMENT VARIES WITH THE PROFITS OF THE BUSINESS, INCLUDING A
DIRECT OR INDIRECT PRESENT OR FUTURE OWNERSHIP OF THE COLLATERAL, OR
RIGHTS TO INCOME, PROCEEDS, OR INCREASE IN VALUE DERIVED FROM THE
COLLATERAL; OR

(VI)    FOR THE SALE OF THE GOODWILL OF A BUSINESS OR OTHER
PROPERTY BY INSTALLMENTS OR OTHERWISE.

9-203. PARTNERSHIP PROPERTY.

PARTNERSHIP PROPERTY IS PROPERTY OF THE PARTNERSHIP AND NOT OF
THE PARTNERS INDIVIDUALLY.

9-204. WHEN PROPERTY IS PARTNERSHIP PROPERTY.

(A)     PROPERTY IS PARTNERSHIP PROPERTY IF ACQUIRED IN THE NAME OF:

(1)      THE PARTNERSHIP; OR

(2)      ONE OR MORE PARTNERS WITH AN INDICATION IN THE
INSTRUMENT TRANSFERRING TITLE TO THE PROPERTY OF THE PERSON'S CAPACITY
AS A PARTNER OR OF THE EXISTENCE OF A PARTNERSHIP BUT WITHOUT AN
INDICATION OF THE NAME OF THE PARTNERSHIP.

(B)     PROPERTY IS ACQUIRED IN THE NAME OF THE PARTNERSHIP BY A
TRANSFER TO:

(1)      THE PARTNERSHIP IN ITS NAME; OR

(2)      ONE OR MORE PARTNERS IN THEIR CAPACITY AS PARTNERS IN THE
PARTNERSHIP, IF THE NAME OF THE PARTNERSHIP IS INDICATED IN THE
INSTRUMENT TRANSFERRING TITLE TO THE PROPERTY.

(C)     PROPERTY IS PRESUMED TO BE PARTNERSHIP PROPERTY IF PURCHASED
WITH PARTNERSHIP ASSETS, EVEN IF NOT ACQUIRED IN THE NAME OF THE
PARTNERSHIP OR OF ONE OR MORE PARTNERS WITH AN INDICATION IN THE
INSTRUMENT TRANSFERRING TITLE TO THE PROPERTY OF THE PERSON'S CAPACITY
AS A PARTNER OR OF THE EXISTENCE OF A PARTNERSHIP.

(D)     PROPERTY ACQUIRED IN THE NAME OF ONE OR MORE OF THE
PARTNERS, WITHOUT AN INDICATION IN THE INSTRUMENT TRANSFERRING TITLE
TO THE PROPERTY OF THE PERSON'S CAPACITY AS A PARTNER OR OF THE
EXISTENCE OF A PARTNERSHIP AND WITHOUT USE OF PARTNERSHIP ASSETS, IS
PRESUMED TO BE SEPARATE PROPERTY, EVEN IF USED FOR PARTNERSHIP
PURPOSES.

SUBTITLE 3. RELATIONS OF PARTNERS TO PERSONS DEALING WITH PARTNERSHIP.
9-301. PARTNER AGENT OF PARTNERSHIP.

SUBJECT TO THE EFFECT OF A STATEMENT OF PARTNERSHIP AUTHORITY
UNDER § 9-303 OF THIS SUBTITLE:

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