178.0409 Standards of conduct for partners.
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/wi/chapter-178/178-0409-2A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
178.0409 Standards of conduct for partners.
(1)A partner owes to the partnership and the other partners the duties of loyalty and care stated in subs.
(2)and
(3).
(2)The fiduciary duty of loyalty of a partner includes all of the following duties:
(a)The duty to account to the partnership and hold as trustee for it any property, profit, or benefit derived by the partner in or from any of the following:
1. The conduct or winding up of the partnership’s business.
2. A use by the partner of the partnership’s property.
3. The appropriation of a partnership opportunity.