{"data":{"id":"us-ky/krs-362.250","jurisdiction":"us-ky","citation":"KRS 362.250","heading":"Partner accountable as a fiduciary.","body":"(1) Every partner must account to the partnership for any benefit, and hold as trustee for\nit any profits derived by him without the consent of the other partners from any\ntransaction connected with the formation, conduct, or liquidation of the partnership\nor from any use by him of its property.\n(2) This section applies also to the representatives of a deceased partner engaged in the\nliquidation of the affairs of the partnership as the personal representatives of the last\nsurviving partner.\n(3) That a transact ion was fair to the partnership shall not constitute a defense to the\nbreach of the obligation in subsection (1) of this section.","path":["KRS Chapter 362"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=40463","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:55Z","sha256":"bffbf81353c130f67e5a827c2a23d33335c5621257b8bea81d636c33d90808a2","source_id":"us-ky","stale":false,"prev":"us-ky/krs-362.245","next":"us-ky/krs-362.255"},"notice":"GroundRules: Original legal text. Not legal advice."}