Tex. Bus. Orgs. Code § 152.303 · Subchapter E. RELATIONSHIP BETWEEN PARTNERS AND OTHER PERSONS
LIABILITY OF PARTNERSHIP FOR CONDUCT OF PARTNER.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A partnership is liable for loss or injury to a person, including a partner, or for a penalty caused by or incurred as a result of a wrongful act or omission or other actionable conduct of a partner acting:
(1) in the ordinary course of business of the partnership; or
(2) with the authority of the partnership.
(b) A partnership is liable for the loss of money or property of a person who is not a partner that is:
(1) received in the course of the partnership's business; and
(2) misapplied by a partner while in the custody of the partnership.
Notes and commentary — not statutory text
History
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/BO/htm/BO.152.htm
- Text hash
- sha256 be3a8fece5f8eefc9e540b43e90e6c5415dcce6263de8c3085ad9cbe2067785c
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.