Texas § BO.153.502 - WINDING UP PROCEDURES
Full text of Texas The Texas Constitution § BO.153.502 — WINDING UP PROCEDURES, with citation guidance and answers to common questions.
§ BO.153.502. WINDING UP PROCEDURES
WINDING UP PROCEDURES. (a) Except as provided by the partnership agreement, the winding up of the partnership's affairs shall be accomplished by: (1) the general partners; (2) if there are no general partners, the limited partners or a person chosen by the limited partners; or (3) a person appointed by the court to carry out the winding up under Subsection (b). (b) On application of a partner or a partner's legal representative or transferee, a court, on cause shown, may wind up the limited partnership's affairs and, in connection with the winding up, may appoint a person to carry out the liquidation and may make all other orders, directions, and inquiries that the circumstances require. (c) Repealed by Acts 2025, 89th Leg., R.S., Ch. 199 (S.B. 2411 ), Sec. 56, eff. September 1, 2025. Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006. Amended by: Acts 2025, 89th Leg., R.S., Ch. 199 (S.B. 2411 ), Sec. 56, eff. September 1, 2025.
Frequently Asked Questions About Texas § BO.153.502
What does The Texas Constitution § BO.153.502 cover?
Section BO.153.502 ("WINDING UP PROCEDURES") 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.153.502?
A common citation format is "The Texas Constitution § BO.153.502" (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.153.502 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.