Texas § 152.202 CREDITS OF AND CHARGES TO PARTNER.

Texas Statutes

§ 152.202 — CREDITS OF AND CHARGES TO PARTNER.

Texas § 152.202

Code BOBusiness Organizations Code

This text of Texas § 152.202 (CREDITS OF AND CHARGES TO PARTNER.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Business Organizations Code Code Ann. § 152.202 (2026).

Text

Sec. 152.202. CREDITS OF AND CHARGES TO PARTNER.

(a)Each partner is credited with an amount equal to:

(1)the cash and the value of property the partner contributes to a partnership; and

(2)the partner's share of the partnership's profits.

(b)Each partner is charged with an amount equal to:

(1)the cash and the value of other property distributed by the partnership to the partner; and

(2)the partner's share of the partnership's losses.

(c)Each partner is entitled to be credited with an equal share of the partnership's profits and is chargeable with a share of the partnership's capital or operating losses in proportion to the partner's share of the profits.

Free access — add to your briefcase to read the full text and ask questions with AI

Sec. 152.202. CREDITS OF AND CHARGES TO PARTNER. (a) Each partner is credited with an amount equal to:
(1) the cash and the value of property the partner contributes to a partnership; and
(2) the partner's share of the partnership's profits.
(b) Each partner is charged with an amount equal to:
(1) the cash and the value of other property distributed by the partnership to the partner; and
(2) the partner's share of the partnership's losses.
(c) Each partner is entitled to be credited with an equal share of the partnership's profits and is chargeable with a share of the partnership's capital or operating losses in proportion to the partner's share of the profits.