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Texas Business Organizations Code - Section 152.603. Contribution Obligation

Legal Research Home > Texas Lawyer > Business Organizations Code > Texas Business Organizations Code - Section 152.603. Contribution Obligation

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§ 152.603. CONTRIBUTION OBLIGATION. If a wrongfully withdrawing partner would have been required to make contributions to the partnership under Section 152.707 or 152.708 if an event requiring winding up of the partnership business had occurred at the time of withdrawal, the withdrawn partner is liable to the partnership to make contributions to the partnership in that amount and pay interest on the amount owed. Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, 2006.

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Last modified: August 11, 2007