Texas Business Organizations Code - Section 152.506. Liability Of Withdrawn Partner To Third Party
Legal Research Home >
Texas Lawyer > Business Organizations Code > Texas Business Organizations Code - Section 152.506. Liability Of Withdrawn Partner To Third Party
§ 152.506. LIABILITY OF WITHDRAWN PARTNER TO THIRD
PARTY. A person who withdraws as a partner in a circumstance that
is not an event requiring a winding up of partnership business under
Section 11.051 or 11.057 is liable to another party as a partner in
a transaction entered into by the partnership or a surviving
partnership under Section 10.001 not later than the second
anniversary of the date of the partner's withdrawal only if the
other party to the transaction:
(1) does not have notice of the partner's withdrawal;
and
(2) reasonably believed that the withdrawn partner was
a partner at the time of the transaction.
Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, 2006.
Section: 152.405 152.406 152.501 152.502 152.503 152.504 152.505 152.506 152.601 152.602 152.603 152.604 152.605 152.606 152.607
Last modified: August 11, 2007
|
