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Texas Business Organizations Code

§ 153.203 — RELEASE OF OBLIGATION TO PARTNERSHIP

BO § 153.203Title 4. PARTNERSHIPS · Ch. 153. LIMITED PARTNERSHIPS · Art. E. FINANCES

Statute text

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Unless otherwise provided by the partnership agreement, the obligation of a partner or the legal representative or successor of a partner to make a contribution, pay cash, transfer other property, or return cash or property paid or distributed to the partner in violation of this chapter or the partnership agreement may be compromised or released only by consent of all of the partners.

Legislative history

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

Source: Texas Business Organizations Code § 153.203 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.