Texas § BO.152.506 - LIABILITY OF WITHDRAWN PARTNER TO THIRD PARTY
Full text of Texas The Texas Constitution § BO.152.506 — LIABILITY OF WITHDRAWN PARTNER TO THIRD PARTY, with citation guidance and answers to common questions.
§ BO.152.506. LIABILITY OF WITHDRAWN PARTNER TO THIRD PARTY
LIABILITY OF WITHDRAWN PARTNER TO THIRD PARTY. A person who withdraws as a partner in a circumstance that is not an event requiring a winding up of partnership business under Section 11.051 or 11.057 is liable to another party as a partner in a transaction entered into by the partnership or a surviving partnership under Section 10.001 not later than the second anniversary of the date of the partner's withdrawal only if the other party to the transaction: (1) does not have notice of the partner's withdrawal; and (2) reasonably believed that the withdrawn partner was a partner at the time of the transaction. Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006. SUBCHAPTER H. REDEMPTION OF WITHDRAWING PARTNER'S OR TRANSFEREE'S INTEREST
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § BO.152.506
What does The Texas Constitution § BO.152.506 cover?
Section BO.152.506 ("LIABILITY OF WITHDRAWN PARTNER TO THIRD PARTY") is part of the The Texas Constitution, the codified statutory law of Texas.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.152.506?
A common citation format is "The Texas Constitution § BO.152.506" (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.152.506 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.