Texas § 152.205 PARTNER'S DUTY OF LOYALTY.

Texas Statutes

§ 152.205 — PARTNER'S DUTY OF LOYALTY.

Texas § 152.205

Code BOBusiness Organizations Code

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Bluebook

Tex. Business Organizations Code Code Ann. § 152.205 (2026).

Text

Sec. 152.205. PARTNER'S DUTY OF LOYALTY. A partner's duty of loyalty includes:

(1)accounting to and holding for the partnership property, profit, or benefit derived by the partner:

(A)in the conduct and winding up of the partnership business; or

(B)from use by the partner of partnership property;

(2)refraining from dealing with the partnership on behalf of a person who has an interest adverse to the partnership; and

(3)refraining from competing or dealing with the partnership in a manner adverse to the partnership.

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Sec. 152.205. PARTNER'S DUTY OF LOYALTY. A partner's duty of loyalty includes:
(1) accounting to and holding for the partnership property, profit, or benefit derived by the partner:
(A) in the conduct and winding up of the partnership business; or
(B) from use by the partner of partnership property;
(2) refraining from dealing with the partnership on behalf of a person who has an interest adverse to the partnership; and
(3) refraining from competing or dealing with the partnership in a manner adverse to the partnership.

Primexx Energy Opportunity Fund, LP and Primexx Energy Opportunity Fund II, LP v. Primexx Energy Corporation, M. Christopher Doyle, Angelo Acconcia, Blackstone Inc., Blackstone Holdings III LP, Blackstone EMA II LLC, BMA VII LLC, Blackstone Energy Management Associates II LLC, Blackstone Energy Partners II LP, Blackstone Management Associates VII LLC, Blackstone Capital Partners VII LP, BCP VII/BEP II Holdings Manager LLC, BX Primexx Topco LLC, and BPP Holdco LLC

(Court of Appeals of Texas, 2025)

Joan DeYoung, Stephen DeYoung, M.D., and David DeYoung v. William L. Maynard, Individually and as of the Estate of Judy Page Maynard, and Maynard Properties, L.P.

(Court of Appeals of Texas, 2015)