Texas Business Organizations Code

§ 152.051 — PARTNERSHIP DEFINED

BO § 152.051Title 4. PARTNERSHIPS · Ch. 152. GENERAL PARTNERSHIPS · Art. B. NATURE AND CREATION OF PARTNERSHIP

Statute text

(a)In this section, "association" does not have the meaning of the term "association" under Section 1.002.

(b)Except as provided by Subsection (c) and Section 152.053(a), an association of two or more persons to carry on a business for profit as owners creates a partnership, regardless of whether:

(1)the persons intend to create a partnership; or

(2)the association is called a "partnership," "joint venture," or other name.

(c)An association or organization is not a partnership if it was created under a statute other than:

(1)this title and the provisions of Title 1 applicable to partnerships and limited partnerships;

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Legislative history

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