{"data":{"id":"us-tx/tex.-business-organizations-code-153.503","jurisdiction":"us-tx","citation":"Tex. Business Organizations Code § 153.503","heading":"POWERS OF PERSON CONDUCTING WIND UP.","body":"(a) After the occurrence of an event requiring winding up of a limited partnership and until the filing of a certificate of termination as provided by Section 11.101, unless a written partnership agreement provides otherwise, a person winding up the limited partnership's business in the name of and on behalf of the limited partnership may take the actions specified in Sections 11.052 and 11.053.\n(b) The acts described by Subsection (a) do not create a liability for a limited partner that did not exist before an action to wind up the business of the partnership was taken.\nActs 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.\nAmended by:\nActs 2005, 79th Leg., Ch. 64 (H.B. 1319), Sec. 94, eff. January 1, 2006.\nActs 2007, 80th Leg., R.S., Ch. 688 (H.B. 1737), Sec. 127, eff. September 1, 2007.","path":["BUSINESS ORGANIZATIONS CODE","TITLE 4. PARTNERSHIPS","CHAPTER 153. LIMITED PARTNERSHIPS","SUBCHAPTER K. SUPPLEMENTAL WINDING UP AND TERMINATION PROVISIONS"],"source_url":"https://statutes.capitol.texas.gov/Docs/BO/htm/BO.153.htm#153.503","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:46:58Z","sha256":"b0d408f45b67175b1da6b7f65311161896438d854541d758a72911d27af23b2d","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-business-organizations-code-153.502","next":"us-tx/tex.-business-organizations-code-153.504"},"notice":"GroundRules: Original legal text. Not legal advice."}