Ky. Rev. Stat. § 362.215

Current through 2024 Ky. Acts ch. 225

Section 362.215 - 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 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.

KRS 362.215

Effective:6/26/2007
Repeal the prior repeal contained in 2006, Ky. Acts ch. 149, sec. 239, which was to have been effective 1/1/2008, 2007, Ky. Acts ch. 137, sec. 180, effective6/26/2007. -- Repealed 2006, Ky. Acts ch. 149, sec. 239, effective 1/1/2008. -- Created 1954 Ky. Acts ch. 38, sec. 14, effective 6/17/1954.