Texas Business Organizations Code - Section 152.610. Deferred Payment On Winding Up Partnership
Legal Research Home >
Texas Lawyer > Business Organizations Code > Texas Business Organizations Code - Section 152.610. Deferred Payment On Winding Up Partnership
§ 152.610. DEFERRED PAYMENT ON WINDING UP
PARTNERSHIP. If a partner withdraws under Section 152.501 and not
later than the 60th day after the date of withdrawal an event
requiring winding up occurs under Section 11.051 or 11.057:
(1) the partnership may defer paying the redemption
price to the withdrawn partner until the partnership makes a
winding up distribution to the remaining partners; and
(2) the redemption price or contribution obligation is
the amount the withdrawn partner would have received or contributed
if the event requiring winding up had occurred at the time of the
partner's withdrawal.
Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, 2006.
Section: 152.603 152.604 152.605 152.606 152.607 152.608 152.609 152.610 152.611 152.612 152.701 152.702 152.703 152.704 152.705
Last modified: August 11, 2007
|
