Tex. Business Organizations Code § 152.601
This is the official text of Tex. Business Organizations Code § 152.601, part of Texas’s Business Organizations Code — governs the formation and operation of corporations, LLCs, and partnerships.
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§ 152.601. REDEMPTION IF PARTNERSHIP NOT WOUND UP.
Official statutory text
The partnership interest of a withdrawn partner automatically is redeemed by the partnership as of the date of withdrawal in accordance with this subchapter if:
(1) the event of withdrawal occurs under Sections 152.501(b)(1)-(9) and an event requiring a winding up of partnership business does not occur before the 61st day after the date of the withdrawal; or
(2) the event of a withdrawal occurs under Section 152.501(b)(10).
(1) the event of withdrawal occurs under Sections 152.501(b)(1)-(9) and an event requiring a winding up of partnership business does not occur before the 61st day after the date of the withdrawal; or
(2) the event of a withdrawal occurs under Section 152.501(b)(10).
Status: in_force · Read it on the official government site
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