N.Y. PTR Law § 43
This is the official text of N.Y. PTR Law § 43, part of New York’s PTR Law — part of the compiled statutory law of New York, published by the state as "PTR Law." Browse the sections below, each linked to its official government source.
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Partner accountable as a fiduciary
Official statutory text
§ 43. Partner accountable as a fiduciary. 1. Every partner must\naccount to the partnership for any benefit, and hold as trustee for it\nany profits derived by him without the consent of the other partners\nfrom any transaction connected with the formation, conduct, or\nliquidation of the partnership or from any use by him of its property.\n 2. This section applies also to the representatives of a deceased\npartner engaged in the liquidation of the affairs of the partnership as\nthe personal representatives of the last surviving partner.\n
Status: in_force · Read it on the official government site
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