Texas § 152.303 LIABILITY OF PARTNERSHIP FOR CONDUCT OF PARTNER.

Texas Statutes

§ 152.303 — LIABILITY OF PARTNERSHIP FOR CONDUCT OF PARTNER.

Texas § 152.303

Code BOBusiness Organizations Code

This text of Texas § 152.303 (LIABILITY OF PARTNERSHIP FOR CONDUCT OF 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. § 152.303 (2026).

Text

Sec. 152.303. LIABILITY OF PARTNERSHIP FOR CONDUCT OF PARTNER.

(a)A partnership is liable for loss or injury to a person, including a partner, or for a penalty caused by or incurred as a result of a wrongful act or omission or other actionable conduct of a partner acting:

(1)in the ordinary course of business of the partnership; or

(2)with the authority of the partnership.

(b)A partnership is liable for the loss of money or property of a person who is not a partner that is:

(1)received in the course of the partnership's business; and

(2)misapplied by a partner while in the custody of the partnership.

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Sec. 152.303. LIABILITY OF PARTNERSHIP FOR CONDUCT OF PARTNER. (a) A partnership is liable for loss or injury to a person, including a partner, or for a penalty caused by or incurred as a result of a wrongful act or omission or other actionable conduct of a partner acting:
(1) in the ordinary course of business of the partnership; or
(2) with the authority of the partnership.
(b) A partnership is liable for the loss of money or property of a person who is not a partner that is:
(1) received in the course of the partnership's business; and
(2) misapplied by a partner while in the custody of the partnership.