Texas Business Organizations Code

§ 151.003 — NOTICE OF FACT

BO § 151.003Title 4. PARTNERSHIPS · Ch. 151. GENERAL PROVISIONS

Statute text

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(a)For purposes of this title, a person has notice of a fact if the person:

(1)has knowledge of the fact;

(2)has received a communication of the fact as provided by Subsection (c); or

(3)reasonably should have concluded, from all facts then known to that person, that the fact exists.

(b)A person notifies or gives notice to another person of a fact by taking actions reasonably required to inform the other person of the fact in the ordinary course of business, regardless of whether the other person actually has knowledge of the fact.

(c)A person is notified or receives notice of a fact when the fact is communicated to:

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Legislative history

Acts 2011, 82nd Leg., R.S., Ch. 139 (S.B. 748), Sec. 41, eff. September 1, 2011.