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2016 Colorado Revised Statutes
Title 7 - Corporations and Associations
Partnerships
Article 60 - Uniform Partnership Law
§ 7-60-114. Partner's breach of trust - liability

CO Rev Stat ยง 7-60-114 (2016) What's This?

(1) The partnership is bound to make good the loss:

(a) Where one partner acting within the scope of such partner's apparent authority receives money or property of a third person and misapplies it; and

(b) 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.

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