RSA 304-A:14: Partnership Bound by Partner's Breach of Trust.

The partnership is bound to make good the loss:

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

II. 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.