Texas § 153.206 ALLOCATION OF PROFITS AND LOSSES.

Texas Statutes

§ 153.206 — ALLOCATION OF PROFITS AND LOSSES.

Texas § 153.206

Code BOBusiness Organizations Code

This text of Texas § 153.206 (ALLOCATION OF PROFITS AND LOSSES.) 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. § 153.206 (2026).

Text

Sec. 153.206. ALLOCATION OF PROFITS AND LOSSES.

(a)The profits and losses of a limited partnership shall be allocated among the partners in the manner provided by a written partnership agreement.

(b)If a written partnership agreement does not provide for the allocation of profits and losses, the profits and losses shall be allocated:

(1)in accordance with the current percentage or other interest in the partnership stated in partnership records of the kind described by Section 153.551 (a); or

(2)if the allocation of profits and losses is not provided for in partnership records of the kind described by Section 153.551 (a), in proportion to capital accounts.

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Sec. 153.206. ALLOCATION OF PROFITS AND LOSSES. (a) The profits and losses of a limited partnership shall be allocated among the partners in the manner provided by a written partnership agreement.
(b) If a written partnership agreement does not provide for the allocation of profits and losses, the profits and losses shall be allocated:
(1) in accordance with the current percentage or other interest in the partnership stated in partnership records of the kind described by Section 153.551 (a); or
(2) if the allocation of profits and losses is not provided for in partnership records of the kind described by Section 153.551 (a), in proportion to capital accounts.