Texas § 152.706 DISPOSITION OF ASSETS.

Texas Statutes

§ 152.706 — DISPOSITION OF ASSETS.

Texas § 152.706

Code BOBusiness Organizations Code

This text of Texas § 152.706 (DISPOSITION OF ASSETS.) 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. § 152.706 (2026).

Text

Sec. 152.706. DISPOSITION OF ASSETS.

(a)In winding up the partnership business, the property of the partnership, including any required contributions of the partners under Sections 152.707 and 152.708 , shall be applied to discharge its obligations to creditors, including partners who are creditors other than in the partners' capacities as partners.

(b)A surplus shall be applied to pay in cash the net amount distributable to partners in accordance with their right to distributions under Section 152.707 .

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Sec. 152.706. DISPOSITION OF ASSETS. (a) In winding up the partnership business, the property of the partnership, including any required contributions of the partners under Sections 152.707 and 152.708 , shall be applied to discharge its obligations to creditors, including partners who are creditors other than in the partners' capacities as partners.
(b) A surplus shall be applied to pay in cash the net amount distributable to partners in accordance with their right to distributions under Section 152.707 .