Texas Business Organizations Code

§ 152.052 — RULES FOR DETERMINING IF PARTNERSHIP IS CREATED

BO § 152.052Title 4. PARTNERSHIPS · Ch. 152. GENERAL PARTNERSHIPS · Art. B. NATURE AND CREATION OF PARTNERSHIP

(a)Factors indicating that persons have created a partnership include the persons':

(1)receipt or right to receive a share of profits of the business;

(2)expression of an intent to be partners in the business;

(3)participation or right to participate in control of the business;

(4)agreement to share or sharing:

(A)losses of the business; or

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Legislative history

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