{"data":{"id":"us-tx/tex.-business-organizations-code-152.706","jurisdiction":"us-tx","citation":"Tex. Business Organizations Code § 152.706","heading":"DISPOSITION OF ASSETS.","body":"(a) In winding up the partnership business, the property of the partnership, including any required contributions of the partners under Sections 152.707 and 152.708, shall be applied to discharge its obligations to creditors, including partners who are creditors other than in the partners' capacities as partners.\n(b) A surplus shall be applied to pay in cash the net amount distributable to partners in accordance with their right to distributions under Section 152.707.\nActs 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.","path":["BUSINESS ORGANIZATIONS CODE","TITLE 4. PARTNERSHIPS","CHAPTER 152. GENERAL PARTNERSHIPS","SUBCHAPTER I. SUPPLEMENTAL WINDING UP AND TERMINATION PROVISIONS"],"source_url":"https://statutes.capitol.texas.gov/Docs/BO/htm/BO.152.htm#152.706","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:46:58Z","sha256":"df6114d390d5284e8dd7f4cffe4f46a76c93fbc45844b4447ad2a7f0a626f7bb","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-business-organizations-code-152.705","next":"us-tx/tex.-business-organizations-code-152.707"},"notice":"GroundRules: Original legal text. Not legal advice."}