Sec. 153.209. INTERIM DISTRIBUTIONS. Except as otherwise provided by this section and Section 153.210, a partner is entitled to receive a distribution from a limited partnership to the extent and at the time or on the occurrence of an event specified in the partnership agreement before:
(1) the partner withdraws from the partnership; and
(2) the winding up of the partnership business.
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