Texas Statutes
Subchapter D. Relationship Between Partners and Between Partners and Partnerships
Section 152.205. Partner's Duty of Loyalty

Sec. 152.205. PARTNER'S DUTY OF LOYALTY. A partner's duty of loyalty includes:
(1) accounting to and holding for the partnership property, profit, or benefit derived by the partner:
(A) in the conduct and winding up of the partnership business; or
(B) from use by the partner of partnership property;
(2) refraining from dealing with the partnership on behalf of a person who has an interest adverse to the partnership; and
(3) refraining from competing or dealing with the partnership in a manner adverse to the partnership.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.

Structure Texas Statutes