Sec. 153.203. RELEASE OF OBLIGATION TO PARTNERSHIP. Unless otherwise provided by the partnership agreement, the obligation of a partner or the legal representative or successor of a partner to make a contribution, pay cash, transfer other property, or return cash or property paid or distributed to the partner in violation of this chapter or the partnership agreement may be compromised or released only by consent of all of the partners.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Structure Texas Statutes
Chapter 153 - Limited Partnerships
Section 153.201. Form of Contribution
Section 153.202. Enforceability of Promise to Make Contribution
Section 153.203. Release of Obligation to Partnership
Section 153.204. Enforceability of Obligation
Section 153.205. Requirements to Enforce Conditional Obligation
Section 153.206. Allocation of Profits and Losses
Section 153.207. Right to Distribution
Section 153.208. Sharing of Distributions