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2019 Maryland Code
Courts and Judicial Proceedings
Title 5 - Limitations, Prohibited Actions, and Immunities
Subtitle 4 - Immunities and Prohibited Actions -- Businesses, Associations, and Charities
§ 5-420. Immunity -- New partner in existing partnership
Universal Citation:
MD Cts & Jud Pro Code § 5-420 (2019)
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(a) In this section, “partnership” has the meaning stated in § 9A-101 of the Corporations and Associations Article.
(b) 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.
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