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Texas Business Organizations Code - BUS ORG § 152.206. Partner's Duty of Care

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) A partner's duty of care to the partnership and the other partners is to act in the conduct and winding up of the partnership business with the care an ordinarily prudent person would exercise in similar circumstances.

(b) An error in judgment does not by itself constitute a breach of the duty of care.

(c) A partner is presumed to satisfy the duty of care if the partner acts on an informed basis and in compliance with Section 152.204(b).

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Cite this article: FindLaw.com - Texas Business Organizations Code - BUS ORG § 152.206. Partner's Duty of Care - last updated January 01, 2024 | https://codes.findlaw.com/tx/business-organizations-code/bus-org-sect-152-206/

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