2006 Kentucky Revised Statutes - .305   Partnership liable for partner\'s actionable conduct.

362.1-305 Partnership liable for partner's actionable conduct. (1) A partnership is liable for loss or injury caused to a person, or for a penalty incurred, as a result of a wrongful act or omission, or other actionable conduct, of a partner acting in the ordinary course of business of the partnership or with authority of the partnership. (2) If, in the course of the partnership's business or while acting with authority of the partnership, a partner receives or causes the partnership to receive money or property of a person not a partner, and the money or property is misapplied by a partner, then the partnership is liable for the loss. Effective: July 12, 2006 History: Created 2006 Ky. Acts ch. 149, sec. 32, effective July 12, 2006. Page 1 of 1