§ 8435. Partnership liable for partner's actionable conduct
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 15 Pa.C.S.A. Corporations and Unincorporated AssociationsEffective: February 21, 2017
Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 15 Pa.C.S.A. Corporations and Unincorporated Associations (Refs & Annos)
Part III. Partnerships and Limited Liability Companies (Refs & Annos)
Chapter 84. General Partnerships (Refs & Annos)
Subchapter C. Relations of Partners to Persons Dealing with Partnership
Effective: February 21, 2017
15 Pa.C.S.A. § 8435
Formerly cited as PA ST 15 Pa.C.S.A. § 8323; PA ST 15 Pa.C.S.A. § 8325; PA ST 15 Pa.C.S.A. § 8326
§ 8435. Partnership liable for partner's actionable conduct
(a) General rule.--A partnership is liable for loss or injury caused to a person, or for a penalty incurred, as a result of a wrongful act or other actionable conduct, of a partner acting in the ordinary course of business of the partnership or with the actual or apparent authority of the partnership.
(b) Misapplication of property.--If, in the course of the partnership's business or while acting with actual or apparent authority of the partnership, a partner receives or causes the partnership to receive money or property of a person not a partner and the money or property is misapplied by a partner, the partnership is liable for the loss.
Credits
2016, Nov. 21, P.L. 1328, No. 170, § 25, effective in 90 days [Feb. 21, 2017].
15 Pa.C.S.A. § 8435, PA ST 15 Pa.C.S.A. § 8435
Current through Act 11 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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