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Texas Business Organizations Code - BUS ORG § 153.112. Receipt of Wrongful Distribution

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

A limited partner who receives a distribution that is not permitted under Section 153.210 is not required to return the distribution unless the limited partner knew that the distribution violated the prohibition of Section 153.210.  This section does not affect an obligation of the limited partner under the partnership agreement, another agreement, or other applicable law to return the distribution.

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Cite this article: FindLaw.com - Texas Business Organizations Code - BUS ORG § 153.112. Receipt of Wrongful Distribution - last updated January 01, 2024 | https://codes.findlaw.com/tx/business-organizations-code/bus-org-sect-153-112/

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