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Texas Business Organizations Code

§ 152.701 — EFFECT OF EVENT REQUIRING WINDING UP

BO § 152.701Title 4. PARTNERSHIPS · Ch. 152. GENERAL PARTNERSHIPS · Art. I. SUPPLEMENTAL WINDING UP AND TERMINATION PROVISIONS

Statute text

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On the occurrence of an event requiring winding up of a partnership business under Section 11.051 or 11.057:
(1)the partnership continues until the winding up of its business is completed, at which time the partnership is terminated; and
(2)the relationship among the partners is changed as provided by this subchapter.

Legislative history

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

Source: Texas Business Organizations Code § 152.701 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.