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New York Partnership Law Section 43 - Partner Accountable As A Fiduciary.

Legal Research Home > New York Lawyer > Partnership > New York Partnership Law Section 43 - Partner Accountable As A Fiduciary.

    § 43.  Partner  accountable  as  a fiduciary.   1. Every partner must
  account to the partnership for any benefit, and hold as trustee  for  it
  any  profits  derived  by  him without the consent of the other partners
  from  any  transaction  connected  with  the  formation,   conduct,   or
  liquidation of the partnership or from any use by him of its property.
    2.  This  section  applies  also  to the representatives of a deceased
  partner engaged in the liquidation of the affairs of the partnership  as
  the personal representatives of the last surviving partner.

Last modified: August 9, 2006