Court Opinions

State Laws

US Code

US Constitution

Texas Property Code - Section 114.085. Partnerships

Legal Research Home > Texas Laws > Property Code > Texas Property Code - Section 114.085. Partnerships

§ 114.085. PARTNERSHIPS.  (a) To the extent allowed by 
law, a trustee who takes the place of a deceased partner in a 
general partnership in accordance with the articles of partnership 
is liable to third persons only to the extent of the:
		(1)  deceased partner's capital in the partnership;  
and                    
		(2)  trust funds held by the trustee.                                         
	(b)  A trustee who contracts to enter a general partnership 
in its capacity as trustee shall limit, to the extent allowed by 
law, the trust's liability to:
		(1)  the trust assets contributed to the partnership;  
and                  
		(2)  other assets of the trust under the management of 
the contracting trustee.
	(c)  If another provision of this subtitle conflicts with 
this section, this section controls.  This section does not 
exonerate a trustee from liability for negligence.

Added by Acts 1983, 68th Leg., p. 3332, ch. 567, art. 2, § 2, eff. 
Jan. 1, 1984.

Last modified: August 11, 2007