Texas § BO.152.504 - WITHDRAWN PARTNER'S POWER TO BIND PARTNERSHIP
Full text of Texas The Texas Constitution § BO.152.504 — WITHDRAWN PARTNER'S POWER TO BIND PARTNERSHIP, with citation guidance and answers to common questions.
§ BO.152.504. WITHDRAWN PARTNER'S POWER TO BIND PARTNERSHIP
WITHDRAWN PARTNER'S POWER TO BIND PARTNERSHIP. (a) The action of a withdrawn partner occurring not later than the first anniversary of the date of the person's withdrawal binds the partnership if the transaction would bind the partnership before the person's withdrawal and the other party to the transaction: (1) does not have notice of the person's withdrawal as a partner; (2) had done business with the partnership within one year preceding the date of withdrawal; and (3) reasonably believed that the withdrawn partner was a partner at the time of the transaction. (b) A withdrawn partner is liable to the partnership for loss caused to the partnership arising from an obligation incurred by the withdrawn partner after the withdrawal date and for which the partnership is liable under Subsection (a). Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § BO.152.504
What does The Texas Constitution § BO.152.504 cover?
Section BO.152.504 ("WITHDRAWN PARTNER'S POWER TO BIND PARTNERSHIP") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § BO.152.504?
A common citation format is "The Texas Constitution § BO.152.504" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § BO.152.504 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.