The partnership is bound to make good the loss:
1. Where one partner acting within the scope of his or her 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.
[14:74:1931; 1931 NCL § 5028.13]
Structure Nevada Revised Statutes
NRS 87.002 - "Business" defined.
NRS 87.030 - Interpretation of knowledge and notice.
NRS 87.040 - Rules of construction.
NRS 87.050 - Rules for cases not provided for in NRS 87.010 to 87.430, inclusive.
NRS 87.060 - Partnership defined.
NRS 87.070 - Rules for determining existence of partnership.
NRS 87.080 - Property of partnership.
NRS 87.4321 - Partnership as entity.
NRS 87.4322 - Formation of partnership.
NRS 87.4323 - Partnership property.
NRS 87.4324 - When property is partnership property.
NRS 87.090 - Partner agent of partnership; restrictions on authority.
NRS 87.100 - Conveyance of real property of partnership.
NRS 87.110 - Partnership bound by admission of partner.
NRS 87.120 - Partnership charged with knowledge of or notice to partner.
NRS 87.130 - Partnership bound by partner’s wrongful act.
NRS 87.140 - Partnership bound by partner’s breach of trust.
NRS 87.150 - Nature of partner’s liability.
NRS 87.160 - Partner by estoppel.
NRS 87.170 - Liability of incoming partner.
NRS 87.4325 - Partner agent of partnership.
NRS 87.4326 - Transfer of partnership property.
NRS 87.4327 - Statement of partnership authority.
NRS 87.4328 - Statement of denial.
NRS 87.4329 - Partnership liable for actionable conduct of partner.
NRS 87.433 - Liability of partners.
NRS 87.4331 - Actions by and against partnership and partners.
NRS 87.4332 - Liability of purported partner.
NRS 87.180 - Rules determining rights and duties of partners.
NRS 87.190 - Partnership’s books.
NRS 87.200 - Duty of partners to render information.
NRS 87.210 - Partner accountable as fiduciary.
NRS 87.220 - Right to formal account.
NRS 87.230 - Continuation of partnership beyond fixed term.
NRS 87.240 - Extent of property rights of partner.
NRS 87.250 - Nature of partner’s right in specific property of partnership.
NRS 87.260 - Nature of partner’s interest in partnership.
NRS 87.270 - Assignment of partner’s interest.
NRS 87.280 - Partner’s interest subject to charging order.
NRS 87.290 - Dissolution defined.
NRS 87.300 - Partnership not terminated by dissolution.
NRS 87.310 - Causes of dissolution.
NRS 87.320 - Dissolution by decree of court.
NRS 87.330 - General effect of dissolution on authority of partner.
NRS 87.340 - Right of partner to contribution from copartners after dissolution.
NRS 87.350 - Power of partner to bind partnership to third persons after dissolution.
NRS 87.360 - Effect of dissolution on partner’s existing liability.
NRS 87.370 - Right to wind up.
NRS 87.380 - Rights of partners to application of property of partnership.
NRS 87.390 - Rights where partnership is dissolved for fraud or misrepresentation.
NRS 87.400 - Rules for distribution.
NRS 87.410 - Liability of persons who continue business of partnership in certain cases.
NRS 87.430 - Accrual of actions.
NRS 87.4303 - "Debtor in bankruptcy" defined.
NRS 87.4304 - "Distribution" defined.
NRS 87.4305 - "Partnership" defined.
NRS 87.4306 - "Partnership agreement" defined.
NRS 87.4307 - "Partnership at will" defined.
NRS 87.4308 - "Partnership interest" and "partner’s interest in the partnership" defined.
NRS 87.4309 - "Person" defined.
NRS 87.431 - "Property" defined.
NRS 87.4311 - "Registered limited-liability partnership" defined.
NRS 87.4312 - "Statement" defined.
NRS 87.4313 - "Transfer" defined.
NRS 87.4315 - Knowledge and notice.
NRS 87.4316 - Effect of partnership agreement; nonwaivable provisions.
NRS 87.4317 - Supplemental principles of law.
NRS 87.4318 - Execution, filing and recording of statements.
NRS 87.432 - Partnership subject to amendment to or repeal of NRS 87.4301 to 87.4357, inclusive.
NRS 87.4333 - Rights and duties of partner.
NRS 87.4334 - Distributions in kind.
NRS 87.4335 - Rights and duties of partner with respect to information.
NRS 87.4336 - Conduct of partner: General standards.
NRS 87.4337 - Actions by partnership and partners.
NRS 87.4338 - Continuation of partnership beyond definite term or particular undertaking.
NRS 87.4339 - Partner not co-owner of partnership property.
NRS 87.434 - Transferable interest of partner in partnership.
NRS 87.4341 - Transfer of transferable interest of partner.
NRS 87.4342 - Transferable interest of partner subject to charging order.
NRS 87.4343 - Events causing dissociation.
NRS 87.4344 - Power of partner to dissociate; wrongful dissociation.
NRS 87.4345 - Effect of dissociation.
NRS 87.4346 - Purchase of dissociated partner’s interest.
NRS 87.4347 - Power of dissociated partner to bind; liability to partnership.
NRS 87.4348 - Liability of dissociated partner to other persons.
NRS 87.4349 - Statement of dissociation.
NRS 87.435 - Continued use of partnership name.
NRS 87.4351 - Events causing dissolution and winding up of partnership business.
NRS 87.4352 - Partnership continues after dissolution.
NRS 87.4353 - Right to wind up partnership business.
NRS 87.4354 - Power of partner to bind partnership after dissolution.
NRS 87.4355 - Statement of dissolution.
NRS 87.4356 - Liability of partner to other partners after dissolution.
NRS 87.4357 - Settlement of accounts and contributions among partners.
NRS 87.455 - Name of partnership: Reinstatement or revival under old or new name; regulations.
NRS 87.460 - Amendment of certificate of registration.
NRS 87.470 - Termination of registration.
NRS 87.480 - Registered agent required.
NRS 87.490 - Change of location of principal office.
NRS 87.510 - Annual list: Filing requirements; fees; notice; regulations.
NRS 87.530 - Defaulting partnerships: Conditions and procedure for reinstatement.
NRS 87.5405 - Penalty for doing business without registration; enforcement; regulations.
NRS 87.5415 - Certificate of authorization to transact business.
NRS 87.542 - Addresses of managing partners required; failure to file.
NRS 87.543 - Defaulting partnerships: Duties of Secretary of State.
NRS 87.5435 - Defaulting partnerships: Conditions and procedure for reinstatement.
NRS 87.544 - Defaulting partnerships: Reinstatement or revival under old or new name; regulations.