§ 14-8-14 - Recovery from partnership for loss caused by wrongful act of partner - Georgia Statutes

O.C.G.A. 14-8-14 (2010)
14-8-14. Recovery from partnership for loss caused by wrongful act of partner

The partnership is bound to make good the loss:

(1) Where one partner acting within the scope of his apparent authority receives money or property of a third person and misapplies it; and

(2) 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.