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Texas Business Organizations Code

§ 154.201 — BUSINESS TRANSACTIONS BETWEEN PARTNER AND PARTNERSHIP

BO § 154.201Title 4. PARTNERSHIPS · Ch. 154. PROVISIONS APPLICABLE TO BOTH GENERAL AND LIMITED PARTNERSHIPS · Art. C. PARTNERSHIP TRANSACTIONS AND RELATIONSHIPS

Statute text

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Except as otherwise provided by the partnership agreement, a partner may lend money to and transact other business with the partnership. Subject to other applicable law, a partner has the same rights and obligations with respect to those matters as a person who is not a partner.

Legislative history

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

Source: Texas Business Organizations Code § 154.201 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.