Sec. 152.701. EFFECT OF EVENT REQUIRING WINDING UP. On the occurrence of an event requiring winding up of a partnership business under Section 11.051 or 11.057:
(1) the partnership continues until the winding up of its business is completed, at which time the partnership is terminated; and
(2) the relationship among the partners is changed as provided by this subchapter.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Structure Texas Statutes
Chapter 152 - General Partnerships
Subchapter I. Supplemental Winding Up and Termination Provisions
Section 152.701. Effect of Event Requiring Winding Up
Section 152.702. Persons Eligible to Wind Up Partnership Business
Section 152.703. Rights and Duties of Person Winding Up Partnership Business
Section 152.704. Binding Effect of Partner's Action After Event Requiring Winding Up
Section 152.705. Partner's Liability to Other Partners After Event Requiring Winding Up
Section 152.706. Disposition of Assets
Section 152.707. Settlement of Accounts