Texas § BO.152.608 - DEFERRED PAYMENT ON WRONGFUL WITHDRAWAL
Full text of Texas The Texas Constitution § BO.152.608 — DEFERRED PAYMENT ON WRONGFUL WITHDRAWAL, with citation guidance and answers to common questions.
§ BO.152.608. DEFERRED PAYMENT ON WRONGFUL WITHDRAWAL
DEFERRED PAYMENT ON WRONGFUL WITHDRAWAL. (a) A partner who wrongfully withdraws before the expiration of the partnership's period of duration, the completion of a particular undertaking, or the occurrence of a specified event requiring a winding up of partnership business is not entitled to receive any portion of the redemption price until the expiration of the period, the completion of the undertaking, or the occurrence of the specified event, as appropriate, unless the partner establishes to the satisfaction of a court that earlier payment will not cause undue hardship to the partnership. (b) A deferred payment accrues interest. (c) The withdrawn partner may seek to demonstrate to the satisfaction of the court that security for a deferred payment is appropriate. Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006. Amended by: Acts 2007, 80th Leg., R.S., Ch. 688 (H.B. 1737 ), Sec. 110, eff. September 1, 2007.
Frequently Asked Questions About Texas § BO.152.608
What does The Texas Constitution § BO.152.608 cover?
Section BO.152.608 ("DEFERRED PAYMENT ON WRONGFUL WITHDRAWAL") 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.152.608?
A common citation format is "The Texas Constitution § BO.152.608" (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.152.608 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.