2010 Maryland Code
COURTS AND JUDICIAL PROCEEDINGS
TITLE 5 - LIMITATIONS, PROHIBITED ACTIONS, AND IMMUNITIES
Subtitle 4 - Immunities and Prohibited Actions - Businesses, Associations, and Charities
Section 5-420 - Immunity - New partner in existing partnership.
§ 5-420. Immunity - New partner in existing partnership.
(a) "Partnership" defined.- In this section, "partnership" has the meaning stated in § 9A-101 of the Corporations and Associations Article.
(b) Liability for prior obligations.- A person who is admitted as a partner into an existing partnership is liable for all the obligations of the partnership arising before the person's admission as though the person had been a partner when the obligations were incurred, except that this liability shall be satisfied only out of the property of the partnership.
[1990, ch. 546, § 3; 1997, ch. 14, § 9; 1998, ch. 743, § 3; 2002, ch. 19, § 10.]
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