§ 152.211 — REMEDIES OF PARTNERSHIP AND PARTNERS.

Texas § 152.211

• Jurisdiction: Texas
• Code BO: Business Organizations Code

Text

Sec. 152.211. REMEDIES OF PARTNERSHIP AND PARTNERS. (a) A partnership may maintain an action against a partner for a breach of the partnership agreement or for the violation of a duty to the partnership causing harm to the partnership.
(b) A partner may maintain an action against the partnership or another partner for legal or equitable relief, including an accounting of partnership business, to:
(1) enforce a right under the partnership agreement;
(2) enforce a right under this chapter, including:
(A) the partner's rights under Sections 152.201-152.209, 152.212 , and 152.213 ;
(B) the partner's right on withdrawal to have the partner's interest in the partnership redeemed under Subchapter H or to enforce any other right under Subchapters G and H; and
(C) the partner's rights under Subchapter I;
(3) enforce the rights and otherwise protect the interests of the partner, including rights and interests arising independently of the partnership relationship; or
(4) enforce a right under Chapter 11 .
(c) The accrual of and a time limitation on a right of action for a remedy under this section is governed by other applicable law.
(d) A right to an accounting does not revive a claim barred by law.

Legislative History

Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.