Effective January 1, 2010, Chapter 1775 is repealed and no longer governs partnerships. 2008 HB332.
The partnership is bound to make good the loss:
(A) Where one partner acting within the scope of his apparent authority receives money or property of a third person and misapplies it;
(B) 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.
Effective Date: 10-01-1953; 2008 HB332 01-01-2010 .