2016 Colorado Revised Statutes
Title 7 - Corporations and Associations
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.

Disclaimer: These codes may not be the most recent version. Colorado may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.