§ 48-1-11. Partnership bound by partner's breach of trust.

Latest version.

The partnership is bound to make good the loss:

(1)	where one partner acting within the scope of his apparent authority receives money or property of a third person and misapplies it; and,

(2)	where the partnership in the course of its business receives money or property of a third person and the money or property so received is misapplied by any partner while it is in the custody of the partnership.

No Change Since 1953

                    
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