Tex. Business Organizations Code § 152.304
This is the official text of Tex. Business Organizations Code § 152.304, part of Texas’s Business Organizations Code — governs the formation and operation of corporations, LLCs, and partnerships.
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§ 152.304. NATURE OF PARTNER'S LIABILITY.
Official statutory text
(a) Except as provided by Subsection (b) or Section 152.801(a), all partners are jointly and severally liable for all obligations of the partnership unless otherwise:
(1) agreed by the claimant; or
(2) provided by law.
(b) A person who is admitted as a partner into an existing partnership does not have personal liability under Subsection (a) for an obligation of the partnership that:
(1) arises before the partner's admission to the partnership;
(2) relates to an action taken or omission occurring before the partner's admission to the partnership; or
(3) arises before or after the partner's admission to the partnership under a contract or commitment entered into before the partner's admission.
(1) agreed by the claimant; or
(2) provided by law.
(b) A person who is admitted as a partner into an existing partnership does not have personal liability under Subsection (a) for an obligation of the partnership that:
(1) arises before the partner's admission to the partnership;
(2) relates to an action taken or omission occurring before the partner's admission to the partnership; or
(3) arises before or after the partner's admission to the partnership under a contract or commitment entered into before the partner's admission.
Status: in_force · Read it on the official government site
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