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Texas Business Organizations Code - Section 152.606. Indemnification For Certain Liability

Legal Research Home > Texas Lawyer > Business Organizations Code > Texas Business Organizations Code - Section 152.606. Indemnification For Certain Liability

§ 152.606. INDEMNIFICATION FOR CERTAIN LIABILITY.  (a) A 
partnership shall indemnify a withdrawn partner against a 
partnership liability incurred before the date of withdrawal, 
except for a liability:
		(1)  that is unknown to the partnership at the time;  or                      
		(2)  incurred by an act of the withdrawn partner under 
Section 152.504.     
	(b)  For purposes of this section, a liability is unknown to 
the partnership if it is not known to a partner other than the 
withdrawn partner.

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

Last modified: August 11, 2007