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§ 9A-406. Continuation of partnership beyond definite term or particular undertaking

West's Annotated Code of MarylandCorporations and Associations

West's Annotated Code of Maryland
Corporations and Associations
Title 9a. Revised Uniform Partnership Act (Refs & Annos)
Subtitle 4. Relations of Partners to Each Other and to Partnership
MD Code, Corporations and Associations, § 9A-406
§ 9A-406. Continuation of partnership beyond definite term or particular undertaking
Continuation without agreement
(a) If a partnership for a definite term or particular undertaking is continued, without an express agreement, after the expiration of the term or completion of the undertaking, the rights and duties of the partners remain the same as they were at the expiration or completion, so far as is consistent with a partnership at will.
Presumption of agreement
(b) If the partners, or those of them who habitually acted in the business during the term or undertaking, continue the business without any settlement or liquidation of the partnership, they are presumed to have agreed that the partnership will continue.

Credits

Added as Corporations and Associations § 9-406 by Acts 1997, c. 654, § 2, eff. July 1, 1998. Renumbered as Corporations and Associations § 9A-406 by Acts 1998, c. 743, § 1, eff. June 1, 1998.
MD Code, Corporations and Associations, § 9A-406, MD CORP & ASSNS § 9A-406
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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