{"data":{"id":"us-tx/tex.-business-organizations-code-152.506","jurisdiction":"us-tx","citation":"Tex. Business Organizations Code § 152.506","heading":"LIABILITY OF WITHDRAWN PARTNER TO THIRD PARTY.","body":"A person who withdraws as a partner in a circumstance that is not an event requiring a winding up of partnership business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party to the transaction:\n(1) does not have notice of the partner's withdrawal; and\n(2) reasonably believed that the withdrawn partner was a partner at the time of the transaction.\nActs 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.","path":["BUSINESS ORGANIZATIONS CODE","TITLE 4. PARTNERSHIPS","CHAPTER 152. GENERAL PARTNERSHIPS","SUBCHAPTER G. WITHDRAWAL OF PARTNER"],"source_url":"https://statutes.capitol.texas.gov/Docs/BO/htm/BO.152.htm#152.506","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:46:58Z","sha256":"cee29bb2617508343cedc73852f485642457e8c31e133ac6af0a253dad957094","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-business-organizations-code-152.505","next":"us-tx/tex.-business-organizations-code-152.601"},"notice":"GroundRules: Original legal text. Not legal advice."}