Tex. Business Organizations Code § 152.506: LIABILITY OF WITHDRAWN PARTNER TO THIRD PARTY.
Where this section sits in the code
- BUSINESS ORGANIZATIONS CODE
- TITLE 4. PARTNERSHIPS
- CHAPTER 152. GENERAL PARTNERSHIPS
- SUBCHAPTER G. WITHDRAWAL OF PARTNER
A person who withdraws as a partner in a circumstance that is not an event requiring a winding up of partnership business under Section 11.051 or 11.057 is liable to another party as a partner in a transaction entered into by the partnership or a surviving partnership under Section 10.001 not later than the second anniversary of the date of the partner's withdrawal only if the other party to the transaction:
(1) does not have notice of the partner's withdrawal; and
(2) reasonably believed that the withdrawn partner was a partner at the time of the transaction.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Collected 2026-08-27T01:46:58Z. Source file · JSON