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Section 5-420 - Immunity -- New Partner in Existing Partnership — Maryland Law | CourtGPT
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  7. Section 5-420 - Immunity -- New Partner in Existing Partnership
Maryland Legal Code

Section 5-420 - Immunity -- New Partner in Existing Partnership

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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.