Tex. Bus. Orgs. Code § 152.612 · Subchapter H. REDEMPTION OF WITHDRAWING PARTNER'S OR TRANSFEREE'S INTEREST
ACTION TO DETERMINE TRANSFEREE'S REDEMPTION PRICE.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A transferee may maintain an action against a partnership to determine the redemption price of the transferee's interest.
(b) The court shall determine the redemption price of the transferee's interest and accrued interest and enter judgment for payment or refund.
(c) If the court finds that the partnership failed to make payment or otherwise acted arbitrarily, vexatiously, or not in good faith, the court may assess against the partnership in an amount the court finds equitable:
(1) reasonable attorney's fees; and
(2) fees and expenses of appraisers or other experts for a party to the action.
(d) The redemption of a transferee's interest under Sections 152.611(a) and (b) may be deferred as determined by the court if the partnership establishes to the satisfaction of the court that failure to defer redemption will cause undue hardship to the partnership business.
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 f82b14e503dd17036081482565fbad5d09a769a0e49f3e4497ccc6ebdcb0c351
- 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
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Business Organizations Code
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