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Texas Business Organizations Code - Section 152.601. Redemption If Partnership Not Wound Up

Legal Research Home > Texas Lawyer > Business Organizations Code > Texas Business Organizations Code - Section 152.601. Redemption If Partnership Not Wound Up

§ 152.601. REDEMPTION IF PARTNERSHIP NOT WOUND UP.  The 
partnership interest of a withdrawn partner automatically is 
redeemed by the partnership as of the date of withdrawal in 
accordance with this subchapter if:
		(1)  the event of withdrawal occurs under Sections 
152.501(b)(1)-(9) and an event requiring a winding up of 
partnership business does not occur before the 61st day after the 
date of the withdrawal;  or
		(2)  the event of a withdrawal occurs under Section 
152.501(b)(10).         

Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, 2006.                     

Last modified: August 11, 2007