Sec. 152.704. BINDING EFFECT OF PARTNER'S ACTION AFTER EVENT REQUIRING WINDING UP. After the occurrence of an event requiring winding up of the partnership business, a partnership is bound by a partner's act that:
(1) is appropriate for winding up; or
(2) would bind the partnership under Sections 152.301 and 152.302 before the occurrence of the event requiring winding up, if the other party to the transaction does not have notice that an event requiring winding up has occurred.
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