GroundRules
Tex. Business Organizations Code § 152.303: LIABILITY OF PARTNERSHIP FOR CONDUCT OF PARTNER.
Where this section sits in the code
- BUSINESS ORGANIZATIONS CODE
- TITLE 4. PARTNERSHIPS
- CHAPTER 152. GENERAL PARTNERSHIPS
- SUBCHAPTER E. RELATIONSHIP BETWEEN PARTNERS AND OTHER PERSONS
(a) A partnership is liable for loss or injury to a person, including a partner, or for a penalty caused by or incurred as a result of a wrongful act or omission or other actionable conduct of a partner acting:
(1) in the ordinary course of business of the partnership; or
(2) with the authority of the partnership.
(b) A partnership is liable for the loss of money or property of a person who is not a partner that is:
(1) received in the course of the partnership's business; and
(2) misapplied by a partner while in the custody of the partnership.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Collected 2026-08-27T01:46:58Z. Source file · JSON