Unannotated Code of Maryland (Last Updated: May 16, 2014) |
CORPORATIONS AND ASSOCIATIONS |
TITLE 10. LIMITED PARTNERSHIP ACT |
SUBTITLE 6. DISTRIBUTIONS AND WITHDRAWAL |
§ 10-602. Withdrawal of general partner
Latest version.
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A general partner may withdraw from a limited partnership at any time by giving written notice to the other partners, but if the withdrawal notice violates the partnership agreement, the limited partnership may recover from the withdrawing general partner damages for breach of the partnership agreement and offset the damages against the amount otherwise distributable to the withdrawing general partner.