1. (a) A partner may not with fraudulent intent:

   1. (1) convert or appropriate to the partner's own use partnership money or property;
   2. (2) make, or cause to be made, a false entry in partnership records of a partnership transaction; or

   3. (3) fail to make or cause to be made an entry in partnership records to show the true state of a transaction:

      1. (i) relating to partnership business; or
      2. (ii) involving the use of partnership money or property.
2. (b) A person who violates this section is guilty of a misdemeanor and on conviction is subject to imprisonment not exceeding 10 years or a fine not exceeding $5,000 or both.
3. (c) A person who violates this section is subject to § 5-106(b) of the Courts Article.

Added by Acts 2002, c. 26, § 2, eff. Oct. 1, 2002.

Formerly Art. 27, § 173.