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Texas · Through 89th 2nd Called Legislative Session, 2025

Tex. Business Organizations Code § 154.203: DISTRIBUTIONS IN KIND.

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Where this section sits in the code
  1. BUSINESS ORGANIZATIONS CODE
  2. TITLE 4. PARTNERSHIPS
  3. CHAPTER 154. PROVISIONS APPLICABLE TO BOTH GENERAL AND LIMITED PARTNERSHIPS
  4. SUBCHAPTER C. PARTNERSHIP TRANSACTIONS AND RELATIONSHIPS

(a) Except as provided by the partnership agreement, a partner, regardless of the nature of the partner's contribution, is not entitled to demand or receive from a partnership a distribution in any form other than cash.

(b) Except as provided by the partnership agreement, a partner may not be compelled to accept a disproportionate distribution of an asset in kind from a partnership to the extent that the percentage portion of assets distributed to the partner exceeds the percentage of those assets that equals the percentage in which the partner shares in distributions from the partnership.

Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.

Collected 2026-08-27T01:46:58Z. Source file · JSON

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