[§425-121] Partner accountable as a fiduciary. [Repealed July 1, 2000. For new provision, see below.] (1) Every partner must account to the partnership for any benefit, and hold as trustee for it any profits derived by the partner 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 the partner of its property.

(2) 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. [L 1972, c 17, §21; gen ch 1985]

§425-121 Distributions in kind. [Section effective July 1, 2000. For present provision, see above.] A partner has no right to receive, and shall not be required to accept, a distribution in kind. [L 1999, c 284, pt of §1]