Ohio § 1776.44
Full text of Ohio Ohio Revised Code § 1776.44, with citation guidance and answers to common questions.
§ 1776.44.
(A) The only 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 divisions (B) and (C) of
this section. (B) A partner's duty of loyalty to the partnership and the other partners is limited
to 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, 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 partnership business is limited to refraining from engaging
in grossly negligent or reckless conduct, intentional misconduct, or a knowing violation
of law. (D) A partner shall discharge duties to the partnership and the other partners pursuant
to this chapter or under the partnership agreement and shall exercise any rights consistent
with the obligation of good faith and fair dealing. (E) A partner does not violate a duty or obligation under this chapter, or under the
partnership agreement, merely because the partner's conduct furthers the partner's
own interest. (F) A partner may lend money to and transact other business with the partnership, and
as to each loan or transaction the rights and obligations of the partner are the same
as those of a person who is not a partner, subject to other applicable law. (G) This section applies to a person winding up the partnership business as the personal
or legal representative of the last surviving partner as if the person were a partner.
Frequently Asked Questions About Ohio § 1776.44
What does Ohio Revised Code § 1776.44 cover?
Section 1776.44 is part of the Ohio Revised Code, the codified statutory law of Ohio. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Ohio § 1776.44?
A common citation format is "Ohio Revised Code § 1776.44" (Ohio). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Ohio law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Ohio official source linked on this page or consult a licensed Ohio attorney.
How does Ohio § 1776.44 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Ohio can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Ohio.