Texas Business Organizations Code - Section 154.203. Distributions In Kind
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§ 154.203. DISTRIBUTIONS IN KIND. (a) Except as provided
by the partnership agreement, a partner, regardless of the nature
of the partner's contribution, is not entitled to demand or receive
from a partnership a distribution in any form other than cash.
(b) Except as provided by the partnership agreement, a
partner may not be compelled to accept a disproportionate
distribution of an asset in kind from a partnership to the extent
that the percentage portion of assets distributed to the partner
exceeds the percentage of those assets that equals the percentage
in which the partner shares in distributions from the partnership.
Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, 2006.
Section: 154.001 154.002 154.101 154.102 154.103 154.201 154.202 154.203 200.001 200.002 200.003 200.004 200.005 200.006 200.051
Last modified: August 11, 2007
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