Sec. 152.606. INDEMNIFICATION OF WITHDRAWN PARTNER. A partnership shall indemnify a withdrawn partner whose interest is redeemed against all partnership obligations, whether incurred before or after the date of withdrawal, except for an obligation incurred by an act of the withdrawn partner under Section 152.504.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 658 (S.B. 1859), Sec. 13, eff. September 1, 2019.
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 Indemnification of Withdrawn Partner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