Section 1204 - Applicability.
§ 9A-1204. Applicability.
(a) Before January 1, 2003.- Before January 1, 2003, this title governs only a partnership formed:
(1) On or after July 1, 1998, unless that partnership is continuing the business of a dissolved partnership under § 9A-601 of this title; or
(2) Before July 1, 1998, that elects, as provided by subsection (c) of this section, to be governed by this title.
(b) After December 31, 2002.- After December 31, 2002, this title governs all partnerships.
(c) Election before January 1, 2003.- Before January 1, 2003, a partnership voluntarily may elect, in the manner provided in its partnership agreement or by law for amending the partnership agreement, to be governed by this title. With respect to liabilities of the partnership arising after such election, the provisions of this title relating to the liability of the partnership's partners to third parties, other than those provisions dealing with registered limited liability partnerships, apply to limit those partners' liability to a third party who had done business with the partnership within 1 year prior to the partnership's election to be governed by this title, only if the third party knows or has received a notification of the partnership's election to be governed by this title before the liability is incurred.
[1997, ch. 654, § 2; 1998, ch. 21, § 3; ch. 743; 2007, ch. 5, § 7.]