Section 5-420 - Immunity - New partner in existing partnership(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.