Texas Business Organizations Code - Section 152.404. Rights And Duties Of Transferee
Legal Research Home >
Texas Lawyer > Business Organizations Code > Texas Business Organizations Code - Section 152.404. Rights And Duties Of Transferee
§ 152.404. RIGHTS AND DUTIES OF TRANSFEREE. (a) A
transferee of a partner's partnership interest is entitled to
receive, to the extent transferred, distributions to which the
transferor otherwise would be entitled.
(b) If an event requires a winding up of partnership
business under Subchapter I, a transferee is entitled to receive,
to the extent transferred, the net amount otherwise distributable
to the transferor.
(c) Until a transferee becomes a partner, the transferee
does not have liability as a partner solely as a result of the
transfer.
(d) For a proper purpose the transferee may require
reasonable information or an account of a partnership transaction
and make reasonable inspection of the partnership books. In a
winding up of partnership business, a transferee may require an
accounting only from the date of the latest account agreed to by all
of the partners.
(e) Until receipt of notice of a transfer, a partnership is
not required to give effect to a transferee's rights under this
section and Sections 152.401-152.403.
Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, 2006.
Section: 152.304 152.305 152.306 152.307 152.401 152.402 152.403 152.404 152.405 152.406 152.501 152.502 152.503 152.504 152.505
Last modified: August 11, 2007
|
