Texas Business Organizations Code

§ 152.304 — NATURE OF PARTNER'S LIABILITY

BO § 152.304Title 4. PARTNERSHIPS · Ch. 152. GENERAL PARTNERSHIPS · Art. E. RELATIONSHIP BETWEEN PARTNERS AND OTHER PERSONS

Statute text

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(a)Except as provided by Subsection (b) or Section 152.801(a), all partners are jointly and severally liable for all obligations of the partnership unless otherwise:

(1)agreed by the claimant; or

(2)provided by law.

(b)A person who is admitted as a partner into an existing partnership does not have personal liability under Subsection (a) for an obligation of the partnership that:

(1)arises before the partner's admission to the partnership;

(2)relates to an action taken or omission occurring before the partner's admission to the partnership; or

…

Legislative history

Acts 2007, 80th Leg., R.S., Ch. 688 (H.B. 1737), Sec. 106, eff. September 1, 2007. Acts 2011, 82nd Leg., R.S., Ch. 139 (S.B. 748), Sec. 42, eff. September 1, 2011.