Texas Statutes
Title 4 - Partnerships
Chapter 152 - General Partnerships

Section 152.001. Definitions - Sec. 152.001. DEFINITIONS. In this chapter: (1) "Event of withdrawal"...

Section 152.002. Effect of Partnership Agreement; Nonwaivable and Variable Provisions - Sec. 152.002. EFFECT OF PARTNERSHIP AGREEMENT; NONWAIVABLE AND VARIABLE PROVISIONS....

Section 152.003. Supplemental Principles of Law - Sec. 152.003. SUPPLEMENTAL PRINCIPLES OF LAW. The principles of law...

Section 152.004. Rule of Statutory Construction Not Applicable - Sec. 152.004. RULE OF STATUTORY CONSTRUCTION NOT APPLICABLE. The rule...

Section 152.005. Applicable Interest Rate - Sec. 152.005. APPLICABLE INTEREST RATE. If an obligation to pay...

Subchapter B. Nature and Creation of Partnership

Section 152.051. Partnership Defined - Sec. 152.051. PARTNERSHIP DEFINED. (a) In this section, "association" does...

Section 152.052. Rules for Determining if Partnership Is Created - Sec. 152.052. RULES FOR DETERMINING IF PARTNERSHIP IS CREATED. (a)...

Section 152.053. Qualifications to Be Partner; Nonpartner's Liability to Third Person - Sec. 152.053. QUALIFICATIONS TO BE PARTNER; NONPARTNER'S LIABILITY TO THIRD...

Section 152.054. False Representation of Partnership or Partner - Sec. 152.054. FALSE REPRESENTATION OF PARTNERSHIP OR PARTNER. (a) A...

Section 152.055. Authority of Certain Professionals to Create Partnership - Sec. 152.055. AUTHORITY OF CERTAIN PROFESSIONALS TO CREATE PARTNERSHIP. (a)...

Section 152.0551. Partnerships Formed by Physicians and Physician Assistants - Sec. 152.0551. PARTNERSHIPS FORMED BY PHYSICIANS AND PHYSICIAN ASSISTANTS. (a)...

Section 152.056. Partnership as Entity - Sec. 152.056. PARTNERSHIP AS ENTITY. A partnership is an entity...

Subchapter C. Partnership Property

Section 152.101. Nature of Partnership Property - Sec. 152.101. NATURE OF PARTNERSHIP PROPERTY. Partnership property is not...

Section 152.102. Classification as Partnership Property - Sec. 152.102. CLASSIFICATION AS PARTNERSHIP PROPERTY. (a) Property is partnership...

Subchapter D. Relationship Between Partners and Between Partners and Partnerships

Section 152.201. Admission as Partner - Sec. 152.201. ADMISSION AS PARTNER. A person may become a...

Section 152.202. Credits of and Charges to Partner - Sec. 152.202. CREDITS OF AND CHARGES TO PARTNER. (a) Each...

Section 152.203. Rights and Duties of Partner - Sec. 152.203. RIGHTS AND DUTIES OF PARTNER. (a) Each partner...

Section 152.204. General Standards of Partner's Conduct - Sec. 152.204. GENERAL STANDARDS OF PARTNER'S CONDUCT. (a) A partner...

Section 152.205. Partner's Duty of Loyalty - Sec. 152.205. PARTNER'S DUTY OF LOYALTY. A partner's duty of...

Section 152.206. Partner's Duty of Care - Sec. 152.206. PARTNER'S DUTY OF CARE. (a) A partner's duty...

Section 152.207. Standards of Conduct Applicable to Person Winding Up Partnership Business - Sec. 152.207. STANDARDS OF CONDUCT APPLICABLE TO PERSON WINDING UP...

Section 152.209. Decision-Making Requirement - Sec. 152.209. DECISION-MAKING REQUIREMENT. (a) A difference arising in a...

Section 152.210. Partner's Liability to Partnership and Other Partners - Sec. 152.210. PARTNER'S LIABILITY TO PARTNERSHIP AND OTHER PARTNERS. A...

Section 152.211. Remedies of Partnership and Partners - Sec. 152.211. REMEDIES OF PARTNERSHIP AND PARTNERS. (a) A partnership...

Section 152.212. Books and Records of Partnership - Sec. 152.212. BOOKS AND RECORDS OF PARTNERSHIP. (a) In this...

Section 152.213. Information Regarding Partnership - Sec. 152.213. INFORMATION REGARDING PARTNERSHIP. (a) On request and to...

Section 152.214. Certain Third-Party Obligations Not Affected - Sec. 152.214. CERTAIN THIRD-PARTY OBLIGATIONS NOT AFFECTED. Sections 152. 203,...

Subchapter E. Relationship Between Partners and Other Persons

Section 152.301. Partner as Agent - Sec. 152.301. PARTNER AS AGENT. Each partner is an agent...

Section 152.302. Binding Effect of Partner's Action - Sec. 152.302. BINDING EFFECT OF PARTNER'S ACTION. (a) Unless a...

Section 152.303. Liability of Partnership for Conduct of Partner - Sec. 152.303. LIABILITY OF PARTNERSHIP FOR CONDUCT OF PARTNER. (a)...

Section 152.304. Nature of Partner's Liability - Sec. 152.304. NATURE OF PARTNER'S LIABILITY. (a) Except as provided...

Section 152.305. Remedy - Sec. 152.305. REMEDY. An action may be brought against a...

Section 152.306. Enforcement of Remedy - Sec. 152.306. ENFORCEMENT OF REMEDY. (a) A judgment against a...

Section 152.307. Extension of Credit in Reliance on False Representation - Sec. 152.307. EXTENSION OF CREDIT IN RELIANCE ON FALSE REPRESENTATION....

Section 152.308. Partner's Partnership Interest Subject to Charging Order - Sec. 152.308. PARTNER'S PARTNERSHIP INTEREST SUBJECT TO CHARGING ORDER. (a)...

Subchapter F. Transfer of Partnership Interests

Section 152.401. Transfer of Partnership Interest - Sec. 152.401. TRANSFER OF PARTNERSHIP INTEREST. A partner may transfer...

Section 152.402. General Effect of Transfer - Sec. 152.402. GENERAL EFFECT OF TRANSFER. A transfer of all...

Section 152.403. Effect of Transfer on Transferor - Sec. 152.403. EFFECT OF TRANSFER ON TRANSFEROR. After transfer, the...

Section 152.404. Rights and Duties of Transferee - Sec. 152.404. RIGHTS AND DUTIES OF TRANSFEREE. (a) A transferee...

Section 152.405. Power to Effect Transfer or Grant of Security Interest - Sec. 152.405. POWER TO EFFECT TRANSFER OR GRANT OF SECURITY...

Section 152.406. Effect of Death or Divorce on Partnership Interest - Sec. 152.406. EFFECT OF DEATH OR DIVORCE ON PARTNERSHIP INTEREST....

Subchapter G. Withdrawal of Partner

Section 152.501. Events of Withdrawal - Sec. 152.501. EVENTS OF WITHDRAWAL. (a) A person ceases to...

Section 152.502. Effect of Event of Withdrawal on Partnership and Other Partners - Sec. 152.502. EFFECT OF EVENT OF WITHDRAWAL ON PARTNERSHIP AND...

Section 152.503. Wrongful Withdrawal; Liability - Sec. 152.503. WRONGFUL WITHDRAWAL; LIABILITY. (a) At any time before...

Section 152.504. Withdrawn Partner's Power to Bind Partnership - Sec. 152.504. WITHDRAWN PARTNER'S POWER TO BIND PARTNERSHIP. (a) The...

Section 152.505. Effect of Withdrawal on Partner's Existing Liability - Sec. 152.505. EFFECT OF WITHDRAWAL ON PARTNER'S EXISTING LIABILITY. (a)...

Section 152.506. Liability of Withdrawn Partner to Third Party - Sec. 152.506. LIABILITY OF WITHDRAWN PARTNER TO THIRD PARTY. A...

Subchapter H. Redemption of Withdrawing Partner's or Transferee's Interest

Section 152.601. Redemption if Partnership Not Wound Up - Sec. 152.601. REDEMPTION IF PARTNERSHIP NOT WOUND UP. The partnership...

Section 152.602. Redemption Price - Sec. 152.602. REDEMPTION PRICE. (a) Except as provided by Subsection...

Section 152.603. Contribution Obligation - Sec. 152.603. CONTRIBUTION OBLIGATION. If a wrongfully withdrawing partner would...

Section 152.604. Setoff for Certain Damages - Sec. 152.604. SETOFF FOR CERTAIN DAMAGES. The partnership may set...

Section 152.605. Accrual of Interest - Sec. 152.605. ACCRUAL OF INTEREST. Interest payable under Sections 152.602-152.604...

Section 152.606. Indemnification of Withdrawn Partner - Sec. 152.606. INDEMNIFICATION OF WITHDRAWN PARTNER. A partnership shall indemnify...

Section 152.607. Demand or Payment of Estimated Redemption - Sec. 152.607. DEMAND OR PAYMENT OF ESTIMATED REDEMPTION. (a) If...

Section 152.608. Deferred Payment on Wrongful Withdrawal - Sec. 152.608. DEFERRED PAYMENT ON WRONGFUL WITHDRAWAL. (a) A partner...

Section 152.609. Action to Determine Terms of Redemption - Sec. 152.609. ACTION TO DETERMINE TERMS OF REDEMPTION. (a) A...

Section 152.610. Deferred Payment on Winding Up Partnership - Sec. 152.610. DEFERRED PAYMENT ON WINDING UP PARTNERSHIP. If a...

Section 152.611. Redemption of Transferee's Partnership Interest - Sec. 152.611. REDEMPTION OF TRANSFEREE'S PARTNERSHIP INTEREST. (a) A partnership...

Section 152.612. Action to Determine Transferee's Redemption Price - Sec. 152.612. ACTION TO DETERMINE TRANSFEREE'S REDEMPTION PRICE. (a) A...

Subchapter I. Supplemental Winding Up and Termination Provisions

Section 152.701. Effect of Event Requiring Winding Up - Sec. 152.701. EFFECT OF EVENT REQUIRING WINDING UP. On the...

Section 152.702. Persons Eligible to Wind Up Partnership Business - Sec. 152.702. PERSONS ELIGIBLE TO WIND UP PARTNERSHIP BUSINESS. (a)...

Section 152.703. Rights and Duties of Person Winding Up Partnership Business - Sec. 152.703. RIGHTS AND DUTIES OF PERSON WINDING UP PARTNERSHIP...

Section 152.704. Binding Effect of Partner's Action After Event Requiring Winding Up - Sec. 152.704. BINDING EFFECT OF PARTNER'S ACTION AFTER EVENT REQUIRING...

Section 152.705. Partner's Liability to Other Partners After Event Requiring Winding Up - Sec. 152.705. PARTNER'S LIABILITY TO OTHER PARTNERS AFTER EVENT REQUIRING...

Section 152.706. Disposition of Assets - Sec. 152.706. DISPOSITION OF ASSETS. (a) In winding up the...

Section 152.707. Settlement of Accounts - Sec. 152.707. SETTLEMENT OF ACCOUNTS. (a) Each partner is entitled...

Section 152.708. Contributions to Discharge Obligations - Sec. 152.708. CONTRIBUTIONS TO DISCHARGE OBLIGATIONS. (a) Except as provided...

Section 152.710. Reinstatement - Sec. 152.710. REINSTATEMENT. To approve a reinstatement of a partnership...

Subchapter J. Limited Liability Partnerships

Section 152.801. Liability of Partner - Sec. 152.801. LIABILITY OF PARTNER. (a) Except as provided by...

Section 152.802. Registration - Sec. 152.802. REGISTRATION. (a) In addition to complying with Section...

Section 152.803. Name - Sec. 152.803. NAME. The name of a limited liability partnership...

Section 152.805. Limited Partnership - Sec. 152.805. LIMITED PARTNERSHIP. A limited partnership may become a...

Section 152.806. Annual Report - Sec. 152.806. ANNUAL REPORT. (a) Not later than June 1...

Subchapter K. Foreign Limited Liability Partnerships

Section 152.901. General - Sec. 152.901. GENERAL. (a) A foreign limited liability partnership is...

Section 152.902. Name - Sec. 152.902. NAME. The name of a foreign limited liability...

Section 152.903. Activities Not Constituting Transacting Business - Sec. 152.903. ACTIVITIES NOT CONSTITUTING TRANSACTING BUSINESS. Without excluding other...

Section 152.904. Registered Agent and Registered Office - Sec. 152.904. REGISTERED AGENT AND REGISTERED OFFICE. A foreign limited...

Section 152.905. Registration Procedure - Sec. 152.905. REGISTRATION PROCEDURE. (a) Before transacting business in this...

Section 152.906. Withdrawal of Registration - Sec. 152.906. WITHDRAWAL OF REGISTRATION. (a) A registration may be...

Section 152.907. Effect of Certificate of Withdrawal - Sec. 152.907. EFFECT OF CERTIFICATE OF WITHDRAWAL. A certificate of...

Section 152.908. Renewal of Registration - Sec. 152.908. RENEWAL OF REGISTRATION. (a) An effective registration may...

Section 152.909. Action by Secretary of State - Sec. 152.909. ACTION BY SECRETARY OF STATE. The secretary of...

Section 152.910. Effect of Failure to Register - Sec. 152.910. EFFECT OF FAILURE TO REGISTER. (a) A foreign...

Section 152.912. Execution of Application for Amendment - Sec. 152.912. EXECUTION OF APPLICATION FOR AMENDMENT. The application for...

Section 152.913. Execution of Statement of Change of Registered Office or Registered Agent - Sec. 152.913. EXECUTION OF STATEMENT OF CHANGE OF REGISTERED OFFICE...

Section 152.914. Revocation of Registration by Secretary of State - Sec. 152.914. REVOCATION OF REGISTRATION BY SECRETARY OF STATE. (a)...

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Texas Statutes Title 4 - Partnerships Chapter 152 - General Partnerships

Texas Statutes
Title 4 - Partnerships
Chapter 152 - General Partnerships