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Texas Business Organizations Code - Section 153.203. Release Of Obligation To Partnership

Legal Research Home > Texas Lawyer > Business Organizations Code > Texas Business Organizations Code - Section 153.203. Release Of Obligation To Partnership

§ 153.203. RELEASE OF OBLIGATION TO PARTNERSHIP.  Unless 
otherwise provided by the partnership agreement, the obligation of 
a partner or the legal representative or successor of a partner to 
make a contribution, pay cash, transfer other property, or return 
cash or property paid or distributed to the partner in violation of 
this chapter or the partnership agreement may be compromised or 
released only by consent of all of the partners.

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

Last modified: August 11, 2007