Sec. 152.708. CONTRIBUTIONS TO DISCHARGE OBLIGATIONS. (a) Except as provided by Sections 152.304(b) and 152.801, to the extent not taken into account in settling the accounts among partners under Section 152.707:
(1) each partner shall contribute, in the proportion in which the partner shares partnership losses, the amount necessary to satisfy partnership obligations, excluding liabilities that creditors have agreed may be satisfied only with partnership property without recourse to individual partners;
(2) if a partner fails to contribute, the other partners shall contribute the additional amount necessary to satisfy the partnership obligations in the proportions in which the partners share partnership losses; and
(3) a partner or partner's legal representative may enforce or recover from the other partners, or from the estate of a deceased partner, contributions the partner or estate makes to the extent the amount contributed exceeds that partner's or the estate's share of the partnership obligations.
(b) The estate of a deceased partner is liable for the partner's obligation to contribute to the partnership.
(c) The following persons may enforce the obligation of a partner or the estate of a deceased partner to contribute to a partnership:
(1) the partnership;
(2) an assignee for the benefit of creditors of a partnership or a partner; or
(3) a person appointed by a court to represent creditors of a partnership or a partner.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Section: Previous 152.701 152.702 152.703 152.704 152.705 152.706 152.707 152.708 152.709 152.710 152.801 152.802 152.803 152.805 152.806 NextLast modified: September 28, 2016