Texas Business Organizations Code - Section 151.003. Notice Of Fact
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Texas Lawyer > Business Organizations Code > Texas Business Organizations Code - Section 151.003. Notice Of Fact
§ 151.003. NOTICE OF FACT. (a) For purposes of this
title, a person has notice of a fact if the person:
(1) has knowledge of the fact;
(2) has received a communication of the fact as
provided by Subsection (c); or
(3) reasonably should have concluded, from all facts
then known to that person, that the fact exists.
(b) A person notifies or gives notice to another person of a
fact by taking actions reasonably required to inform the other
person of the fact in the ordinary course of business, regardless of
whether the other person actually has knowledge of the fact.
(c) A person is notified or receives notice of a fact when
the fact is communicated to:
(1) the person;
(2) the person's place of business; or
(3) another place held out by the person as the place
for receipt of communications.
(d) Receipt of notice by a partner of a fact relating to the
partnership is effective immediately as notice to the partnership
unless fraud against the partnership is committed by or with the
consent of the partner receiving the notice.
Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, 2006.
Section: 101.463 101.501 101.502 101.551 101.552 151.001 151.002 151.003 152.001 152.002 152.003 152.004 152.005 152.051 152.052
Last modified: August 11, 2007
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