Sec. 154.201. BUSINESS TRANSACTIONS BETWEEN PARTNER AND PARTNERSHIP. Except as otherwise provided by the partnership agreement, a partner may lend money to and transact other business with the partnership. Subject to other applicable law, a partner has the same rights and obligations with respect to those matters as a person who is not a partner.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Structure Texas Statutes
Chapter 154 - Provisions Applicable to Both General and Limited Partnerships
Subchapter C. Partnership Transactions and Relationships
Section 154.201. Business Transactions Between Partner and Partnership
Section 154.202. Effect of Partner Change on Relationship Between Partnership and Creditors