Sec. 152.604. SETOFF FOR CERTAIN DAMAGES. The partnership may set off against the redemption price payable to the withdrawn partner the damages for wrongful withdrawal under Section 152.503(b) and all other amounts owed by the withdrawn partner to the partnership, whether currently due, including interest.
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 Indemnification of Withdrawn Partner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