Texas Business Organizations Code - Section 152.051. Partnership Defined
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§ 152.051. PARTNERSHIP DEFINED. (a) In this section,
"association" does not have the meaning of the term "association"
under Section 1.002.
(b) Except as provided by Subsection (c) and Section
152.053(a), an association of two or more persons to carry on a
business for profit as owners creates a partnership, regardless of
whether:
(1) the persons intend to create a partnership; or
(2) the association is called a "partnership," "joint
venture," or other name.
(c) An association or organization is not a partnership if
it was created under a statute other than:
(1) this title and the provisions of Title 1
applicable to partnerships and limited partnerships;
(2) a predecessor to a statute referred to in
Subdivision (1); or
(3) a comparable statute of another jurisdiction.
(d) The provisions of this chapter govern limited
partnerships only to the extent provided by Sections 153.003 and
153.152 and Subchapter H, Chapter 153.
Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, 2006.
Section: 151.002 151.003 152.001 152.002 152.003 152.004 152.005 152.051 152.052 152.053 152.054 152.055 152.056 152.101 152.102
Last modified: August 11, 2007
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