Tex. Bus. Orgs. Code § 153.502 · Subchapter K. SUPPLEMENTAL WINDING UP AND TERMINATION PROVISIONS
WINDING UP PROCEDURES.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(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(c) Repealed by Acts 2025, 89th Leg., R.S., Ch. 199 (S.B. 2411), Sec. 56, eff.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.
Notes and commentary — not statutory text
History
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.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/BO/htm/BO.153.htm
- Text hash
- sha256 4cac0a4eacb9bc8778fc7d6424a12799c25e913a42e4bbf93b30b106b91237b2
- 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.