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Texas Business Organizations Code - BUS ORG § 152.211. Remedies of Partnership and Partners

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

(a) A partnership may maintain an action against a partner for a breach of the partnership agreement or for the violation of a duty to the partnership causing harm to the partnership.

(b) A partner may maintain an action against the partnership or another partner for legal or equitable relief, including an accounting of partnership business, to:

(1) enforce a right under the partnership agreement;

(2) enforce a right under this chapter, including:

(A) the partner's rights under Sections 152.201-152.209, 152.212, and 152.213;

(B) the partner's right on withdrawal to have the partner's interest in the partnership redeemed under Subchapter H or to enforce any other right under Subchapters G and H;  1 and

(C) the partner's rights under Subchapter I;  2

(3) enforce the rights and otherwise protect the interests of the partner, including rights and interests arising independently of the partnership relationship; or

(4) enforce a right under Chapter 11.

(c) The accrual of and a time limitation on a right of action for a remedy under this section is governed by other applicable law.

(d) A right to an accounting does not revive a claim barred by law.

1 V.T.C.A., Business Organizations Code §§ 152.501, 152.601 et seq.
2 V.T.C.A., Business Organizations Code § 152.701 et seq.
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Cite this article: FindLaw.com - Texas Business Organizations Code - BUS ORG § 152.211. Remedies of Partnership and Partners - last updated January 01, 2024 | https://codes.findlaw.com/tx/business-organizations-code/bus-org-sect-152-211/

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