PARTNER'S LIABILITY TO PARTNERSHIP AND OTHER PARTNERS
Applied in 2 court decisions — leading case Hall v. Douglas (2012)
Most recently applied in Clinton W. (Buddy) Pike, Sr., Daniel L. Walker, W. Tobin Wilson, VHSC Cement, LLC and Few Ready Mix Concrete Co. v. Texas EMC Management, LLC, Texas EMC Products, LP and EMC Cement, BV (June 2017)
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff
A partner is liable to a partnership and the other partners for:
(1) a breach of the partnership agreement; or
(2) a violation of a duty to the partnership or other partners under this chapter that causes harm to the partnership or the other partners.
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.