Current as of April 14, 2021 | Updated by FindLaw Staff
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(a) A partnership is liable for loss or injury to a person, including a partner, or for a penalty caused by or incurred as a result of a wrongful act or omission or other actionable conduct of a partner acting:
(1) in the ordinary course of business of the partnership; or
(2) with the authority of the partnership.
(b) A partnership is liable for the loss of money or property of a person who is not a partner that is:
(1) received in the course of the partnership's business; and
(2) misapplied by a partner while in the custody of the partnership.
Cite this article: FindLaw.com - Texas Business Organizations Code - BUS ORG § 152.303. Liability of Partnership for Conduct of Partner - last updated April 14, 2021 | https://codes.findlaw.com/tx/business-organizations-code/bus-org-sect-152-303/
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