Maryland Code, CORPORATIONS AND ASSOCIATIONS 9A-805
Terms Used In Maryland Code, CORPORATIONS AND ASSOCIATIONS 9A-805
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Person: includes an individual, receiver, trustee, guardian, personal representative, fiduciary, representative of any kind, corporation, partnership, business trust, statutory trust, limited liability company, firm, association, or other nongovernmental entity. See
(b) A filed statement of dissolution cancels a filed statement of partnership authority for the purposes of § 9A-303(c) of this title and is a limitation on authority for the purposes of § 9A-303(d) of this title.
(c) For the purposes of §§ 9A-301 of this title and 9A-804 of this subtitle, a person not a partner is deemed to have notice of the dissolution and the limitation on the partners’ authority as a result of the statement of dissolution 90 days after it is filed.
(d) After filing a statement of dissolution, a dissolved partnership may file a statement of partnership authority which will operate with respect to a person not a partner as provided in § 9A-303(c) and (d) of this title in any transaction, whether or not the transaction is appropriate for winding up the partnership business.