GroundRules
Tex. Business Organizations Code § 152.206: PARTNER'S DUTY OF CARE.
Where this section sits in the code
- BUSINESS ORGANIZATIONS CODE
- TITLE 4. PARTNERSHIPS
- CHAPTER 152. GENERAL PARTNERSHIPS
- SUBCHAPTER D. RELATIONSHIP BETWEEN PARTNERS AND BETWEEN PARTNERS AND PARTNERSHIPS
(a) A partner's duty of care to the partnership and the other partners is to act in the conduct and winding up of the partnership business with the care an ordinarily prudent person would exercise in similar circumstances.
(b) An error in judgment does not by itself constitute a breach of the duty of care.
(c) A partner is presumed to satisfy the duty of care if the partner acts on an informed basis and in compliance with Section 152.204(b).
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Collected 2026-08-27T01:46:58Z. Source file · JSON