GroundRules
Tex. Estates Code § 1151.154: ADMINISTRATION OF PARTNERSHIP INTEREST.
Where this section sits in the code
- ESTATES CODE
- TITLE 3. GUARDIANSHIP AND RELATED PROCEDURES
- SUBTITLE E. ADMINISTRATION OF GUARDIANSHIP
- CHAPTER 1151. RIGHTS, POWERS, AND DUTIES UNDER GUARDIANSHIP
- SUBCHAPTER D. POSSESSION AND CARE OF WARD'S PROPERTY BY GUARDIAN OF THE ESTATE
(a) This section applies only to a general partnership governed by a partnership agreement or articles of partnership that provide that, on the incapacity of a partner, the guardian of the estate of the partner is entitled to the place of the incapacitated partner in the partnership.
(b) If a ward was a partner in a general partnership, the guardian who contracts to come into the partnership is, to the extent allowed by law, liable to a third person only to the extent of:
(1) the incapacitated partner's capital in the partnership; and
(2) the assets of the incapacitated partner's estate that are held by the guardian.
(c) This section does not exonerate a guardian from liability for the guardian's negligence.
Added by Acts 2011, 82nd Leg., R.S., Ch. 823 (H.B. 2759), Sec. 1.02, eff. January 1, 2014.
Collected 2026-08-27T01:47:08Z. Source file · JSON