2010 Nevada Code
TITLE 7 BUSINESS ASSOCIATIONS; SECURITIES; COMMODITIES
Chapter 87 Partnerships
NRS 87.140 Partnership bound by partner's breach of trust.
NRS 87.140 Partnership bound by partner's breach of trust. The partnership is bound to make good the loss:
1. Where one partner acting within the scope of his or her 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.
[14:74:1931; 1931 NCL 5028.13]
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