Sec. 152.601. REDEMPTION IF PARTNERSHIP NOT WOUND UP. The partnership interest of a withdrawn partner automatically is redeemed by the partnership as of the date of withdrawal in accordance with this subchapter if:
(1) the event of withdrawal occurs under Sections 152.501(b)(1)-(9) and an event requiring a winding up of partnership business does not occur before the 61st day after the date of the withdrawal; or
(2) the event of a withdrawal occurs under Section 152.501(b)(10).
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Structure Texas Statutes
Chapter 152 - General Partnerships
Subchapter H. Redemption of Withdrawing Partner's or Transferee's Interest
Section 152.601. Redemption if Partnership Not Wound Up
Section 152.602. Redemption Price
Section 152.603. Contribution Obligation
Section 152.604. Setoff for Certain Damages
Section 152.605. Accrual of Interest
Section 152.606. Indemnification of Withdrawn Partner
Section 152.607. Demand or Payment of Estimated Redemption
Section 152.608. Deferred Payment on Wrongful Withdrawal
Section 152.609. Action to Determine Terms of Redemption
Section 152.610. Deferred Payment on Winding Up Partnership
Section 152.611. Redemption of Transferee's Partnership Interest
Section 152.612. Action to Determine Transferee's Redemption Price