Texas § 152.304 NATURE OF PARTNER'S LIABILITY.

Texas Statutes

§ 152.304 — NATURE OF PARTNER'S LIABILITY.

Texas § 152.304

Code BOBusiness Organizations Code

This text of Texas § 152.304 (NATURE OF PARTNER'S LIABILITY.) 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. § 152.304 (2026).

Text

Sec. 152.304. NATURE OF PARTNER'S LIABILITY.

(a)Except as provided by Subsection (b) or Section 152.801 (a), all partners are jointly and severally liable for all obligations of the partnership unless otherwise:

(1)agreed by the claimant; or

(2)provided by law.

(b)A person who is admitted as a partner into an existing partnership does not have personal liability under Subsection (a) for an obligation of the partnership that:

(1)arises before the partner's admission to the partnership;

(2)relates to an action taken or omission occurring before the partner's admission to the partnership; or

(3)arises before or after the partner's admission to the partnership under a contract or commitment entered into before the partner's admission.

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Sec. 152.304. NATURE OF PARTNER'S LIABILITY. (a) Except as provided by Subsection (b) or Section 152.801 (a), all partners are jointly and severally liable for all obligations of the partnership unless otherwise:
(1) agreed by the claimant; or
(2) provided by law.
(b) A person who is admitted as a partner into an existing partnership does not have personal liability under Subsection (a) for an obligation of the partnership that:
(1) arises before the partner's admission to the partnership;
(2) relates to an action taken or omission occurring before the partner's admission to the partnership; or
(3) arises before or after the partner's admission to the partnership under a contract or commitment entered into before the partner's admission.

Legislative History

Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006. Amended by: Acts 2007, 80th Leg., R.S., Ch. 688 (H.B. 1737 ), Sec. 106, eff. September 1, 2007. Acts 2011, 82nd Leg., R.S., Ch. 139 (S.B. 748 ), Sec. 42, eff. September 1, 2011.