Tex. Bus. Orgs. Code § 153.503 · Subchapter K. SUPPLEMENTAL WINDING UP AND TERMINATION PROVISIONS
POWERS OF PERSON CONDUCTING WIND UP.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) After the occurrence of an event requiring winding up of a limited partnership and until the filing of a certificate of termination as provided by Section 11.101, unless a written partnership agreement provides otherwise, a person winding up the limited partnership's business in the name of and on behalf of the limited partnership may take the actions specified in Sections 11.052 and 11.053.
(b) The acts described by Subsection (a) do not create a liability for a limited partner that did not exist before an action to wind up the business of the partnership was taken.
Notes and commentary — not statutory text
History
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Amended by:
Acts 2005, 79th Leg., Ch. 64 (H.B. 1319), Sec. 94, eff. January 1, 2006.
Acts 2007, 80th Leg., R.S., Ch. 688 (H.B. 1737), Sec. 127, eff. September 1, 2007.
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 59566acf29ab2eb7a11a04e89ea0eaa61e59a90dc7c3cf0bc2290fc97f2206ba
- 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
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
Business Organizations Code
- Tex. Bus. Orgs. Code § 11.052WINDING UP PROCEDURES.Printed as Sections 11.052 and 11.053
- Tex. Bus. Orgs. Code § 11.053PROPERTY APPLIED TO DISCHARGE LIABILITIES AND OBLIGATIONS.Printed as Sections 11.052 and 11.053
- Tex. Bus. Orgs. Code § 11.101CERTIFICATE OF TERMINATION FOR FILING ENTITY.Printed as Section 11.101
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.