Maryland Statutes
Subtitle 4 - Other Commercial Fraud
Section 8-401 - Fraudulent Conversion of Partnership Assets

(a)    A partner may not with fraudulent intent:
        (1)    convert or appropriate to the partner’s own use partnership money or property;
        (2)    make, or cause to be made, a false entry in partnership records of a partnership transaction; or
        (3)    fail to make or cause to be made an entry in partnership records to show the true state of a transaction:
            (i)    relating to partnership business; or
            (ii)    involving the use of partnership money or property.
    (b)    A person who violates this section is guilty of a misdemeanor and on conviction is subject to imprisonment not exceeding 10 years or a fine not exceeding $5,000 or both.
    (c)    A person who violates this section is subject to § 5-106(b) of the Courts Article.

Structure Maryland Statutes