Nevada Code § 87.4336

1. 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 subsections 2 and 3.
2. A partners duty of loyalty to the
partnership and the other partners is limited to the following:
(a) 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;
(b) 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; and
(c) To refrain from competing with the
partnership in the conduct of the partnership business before the dissolution
of the partnership.
3. A partners 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.
4. A partner shall discharge the duties to
the partnership and the other partners under NRS
87.4301 to 87.4357 , inclusive, or
under the partnership agreement and exercise any rights consistently with the
obligation of good faith and fair dealing.
5. A partner does not violate a duty or
obligation under NRS 87.4301 to 87.4357 , inclusive, or under the
partnership agreement merely because the partners conduct furthers the
partners own interest.
6. 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.
7. 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.

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