Indiana § 23-4-1-21 Partner accountable as fiduciary

Indiana Statutes

§ 23-4-1-21 — Partner accountable as fiduciary

Indiana § 23-4-1-21

Title 23BUSINESS AND OTHER ASSOCIATIONS

Art. 4PARTNERSHIPS

Ch. 1Uniform Partnership Act

This text of Indiana § 23-4-1-21 (Partner accountable as fiduciary) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 23-4-1-21 (2026).

Text

(1)Every partner must account to the partnership for any benefit, and hold as trustee for it any profits derived by him without the consent of the other partners from any transaction connected with the formation, conduct, or liquidation of the partnership or from any use by him of its property.

(2)This section applies also to the representatives of a deceased partner engaged in the liquidation of the affairs of the partnership as the personal representatives of the last surviving partner. Formerly: Acts 1949, c.114, s.21.

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(1) Every partner must account to the
partnership for any benefit, and hold as trustee for it any profits derived
by him without the consent of the other partners from any transaction
connected with the formation, conduct, or liquidation of the partnership
or from any use by him of its property.
(2) This section applies also to the representatives of a deceased
partner engaged in the liquidation of the affairs of the partnership as
the personal representatives of the last surviving partner.
Formerly: Acts 1949, c.114, s.21.