Sec. 351.104. ADMINISTRATION OF PARTNERSHIP INTEREST. (a) If a decedent was a partner in a general partnership and the partnership agreement or articles of partnership provide that, on the death of a partner, the partner's personal representative is entitled to that partner's place in the partnership, a personal representative accordingly contracting to enter the partnership under the partnership agreement or articles of partnership is, to the extent allowed by law, liable to a third person only to the extent of:
(1) the deceased partner's capital in the partnership; and
(2) the estate's assets held by the representative.
(b) This section does not exonerate a personal representative from liability for the representative's negligence.
Added by Acts 2009, 81st Leg., R.S., Ch. 680 (H.B. 2502), Sec. 1, eff. January 1, 2014.
Structure Texas Statutes
Title 2 - Estates of Decedents; Durable Powers of Attorney
Subtitle H - Continuation of Administration
Chapter 351 - Powers and Duties of Personal Representatives in General
Subchapter C. Possession and Care of Estate Property
Section 351.102. Possession of Personal Property and Records
Section 351.103. Possession of Property Held in Common Ownership
Section 351.104. Administration of Partnership Interest
Section 351.105. Holding of Stocks, Bonds, and Other Personal Property in Nominee's Name