CORPORATIONS CODE § 16404. Partner’s fiduciary duties, Cal Corp Code § 16404
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Summary
(a)
The fiduciary duties a partner owes to the partnership and the other partners are the duty of loyalty and the duty of care set forth in subdivisions (b) and (c).
(b)
A partner’s duty of loyalty to the partnership and the other partners includes all of the following:
(1)
To account to the partnership and hold as trustee for it any property, profit, or benefit derived by the partner in the conduct and winding up of the partnership business or derived from a use by the partner of partnership property or information, including the appropriation of a partnership opportunity.
(2)
To refrain from dealing with the partnership in the conduct or winding up of the partnership business as or on behalf of a party having an interest adverse to the partnership.
(3)
To refrain from competing with the partnership in the conduct of the partnership business before the dissolution of the partnership.
(c)
A partner’s duty of care to the partnership and the other partners in the conduct and winding up of the ...