Partner accountable as a fiduciary
Known as the North Carolina Uniform Partnership Act
The act spans §§ 59–59 (46 sections).
Applied in 7 court decisions — leading case 157 N.C. App. 1 - Compton v. Kirby (2003)
Most recently applied in Barnes v. Perry (July 2018)
1941, c. 374, s. 21.
Court decisions citing this, by year. The dip in the last several years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the most recent years, so recent citations are undercounted.
(a) 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.
(b) 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.
Official source: North Carolina General Assembly. Reproduced from public-domain North Carolina statutes; confirm against the official source for the current text. Not legal advice.