Sec. 152.303. LIABILITY OF PARTNERSHIP FOR CONDUCT OF PARTNER. (a) A partnership is liable for loss or injury to a person, including a partner, or for a penalty caused by or incurred as a result of a wrongful act or omission or other actionable conduct of a partner acting:
(1) in the ordinary course of business of the partnership; or
(2) with the authority of the partnership.
(b) A partnership is liable for the loss of money or property of a person who is not a partner that is:
(1) received in the course of the partnership's business; and
(2) misapplied by a partner while in the custody of the partnership.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Structure Texas Statutes
Chapter 152 - General Partnerships
Subchapter E. Relationship Between Partners and Other Persons
Section 152.301. Partner as Agent
Section 152.302. Binding Effect of Partner's Action
Section 152.303. Liability of Partnership for Conduct of Partner
Section 152.304. Nature of Partner's Liability
Section 152.306. Enforcement of Remedy
Section 152.307. Extension of Credit in Reliance on False Representation
Section 152.308. Partner's Partnership Interest Subject to Charging Order