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§ 8-401. Fraudulent conversion of partnership assets

West's Annotated Code of MarylandCriminal Law

West's Annotated Code of Maryland
Criminal Law (Refs & Annos)
Title 8. Fraud and Related Crimes
Subtitle 4. Other Commercial Fraud
MD Code, Criminal Law, § 8-401
Formerly cited as MD CODE Art. 27, § 173
§ 8-401. Fraudulent conversion of partnership assets
Prohibited
(a) A partner may not with fraudulent intent:
(1) convert or appropriate to the partner's own use partnership money or property;
(2) make, or cause to be made, a false entry in partnership records of a partnership transaction; or
(3) fail to make or cause to be made an entry in partnership records to show the true state of a transaction:
(i) relating to partnership business; or
(ii) involving the use of partnership money or property.
Penalty
(b) A person who violates this section is guilty of a misdemeanor and on conviction is subject to imprisonment not exceeding 10 years or a fine not exceeding $5,000 or both.
Statute of limitations and in banc review
(c) A person who violates this section is subject to § 5-106(b) of the Courts Article.

Credits

Added by Acts 2002, c. 26, § 2, eff. Oct. 1, 2002.
Formerly Art. 27, § 173.
MD Code, Criminal Law, § 8-401, MD CRIM LAW § 8-401
Current with all legislation from the 2023 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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