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Texas Business Organizations Code

§ 152.209 — DECISION-MAKING REQUIREMENT

BO § 152.209Title 4. PARTNERSHIPS · Ch. 152. GENERAL PARTNERSHIPS · Art. D. RELATIONSHIP BETWEEN PARTNERS AND BETWEEN PARTNERS AND PARTNERSHIPS

Statute text

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(a)A difference arising in a matter in the ordinary course of the partnership business may be decided by a majority-in-interest of the partners.
(b)An act outside the ordinary course of business of a partnership may be undertaken only with the consent of all partners.

Legislative history

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

Source: Texas Business Organizations Code § 152.209 from the Texas Constitution and Statutes (Texas Legislature) (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.