§ 10-7A-02

Maryland § 10-7A-02

• Jurisdiction: Maryland
• Article gca: Corporations and Associations
• Title: 10

Text

(a) Unless the partnership agreement specifies the manner of authorizing a conversion of the limited partnership, the limited partnership shall approve the conversion of the limited partnership to an other entity by the affirmative vote of all of the general partners and a majority in interest of the limited partners.

(b) An other entity seeking to convert to a limited partnership shall approve the conversion of the other entity to a limited partnership in the manner and by the vote required by its governing document and the laws of the place where it is incorporated or organized.

(c) (1) A partner of a limited partnership objecting to a conversion of the limited partnership has the same rights with respect to the partner’s partnership interest in the limited partnership as a stockholder of a Maryland corporation who objects has with respect to the stockholder’s stock under Title 3, Subtitle 2 of this article.

(2) The procedures under Title 3, Subtitle 2 of this article shall be applicable to the extent practicable.