Texas Business Organizations Code - Section 152.306. Enforcement Of Remedy
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Texas Lawyer > Business Organizations Code > Texas Business Organizations Code - Section 152.306. Enforcement Of Remedy
§ 152.306. ENFORCEMENT OF REMEDY. (a) A judgment against
a partnership is not by itself a judgment against a partner. A
judgment may be entered against a partner who has been served with
process in a suit against the partnership.
(b) Except as provided by Subsection (c), a creditor may
proceed against one or more partners or the property of the partners
to satisfy a judgment based on a claim against the partnership only
if a judgment:
(1) is also obtained against the partner; and
(2) based on the same claim:
(A) is obtained against the partnership;
(B) has not been reversed or vacated; and
(C) remains unsatisfied for 90 days after:
(i) the date on which the judgment is
entered; or
(ii) the date on which the stay expires, if
the judgment is contested by appropriate proceedings and execution
on the judgment is stayed.
(c) Subsection (b) does not prohibit a creditor from
proceeding directly against one or more partners or the property of
the partners without first seeking satisfaction from partnership
property if:
(1) the partnership is a debtor in bankruptcy;
(2) the creditor and the partnership agreed that the
creditor is not required to comply with Subsection (b);
(3) a court orders otherwise, based on a finding that
partnership property subject to execution in the state is clearly
insufficient to satisfy the judgment or that compliance with
Subsection (b) is excessively burdensome; or
(4) liability is imposed on the partner by law
independently of the person's status as a partner.
(d) This section does not limit the effect of Section
152.801 with respect to a limited liability partnership.
Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, 2006.
Section: 152.213 152.214 152.301 152.302 152.303 152.304 152.305 152.306 152.307 152.401 152.402 152.403 152.404 152.405 152.406
Last modified: August 11, 2007
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