Texas Business Organizations Code

§ 152.704 — BINDING EFFECT OF PARTNER'S ACTION AFTER EVENT REQUIRING WINDING UP

BO § 152.704Title 4. PARTNERSHIPS · Ch. 152. GENERAL PARTNERSHIPS · Art. I. SUPPLEMENTAL WINDING UP AND TERMINATION PROVISIONS

Statute text

View on source

After the occurrence of an event requiring winding up of the partnership business, a partnership is bound by a partner's act that:

(1)is appropriate for winding up; or

(2)would bind the partnership under Sections 152.301 and 152.302 before the occurrence of the event requiring winding up, if the other party to the transaction does not have notice that an event requiring winding up has occurred.

Legislative history

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