Tex. Business Organizations Code § 152.702
This is the official text of Tex. Business Organizations Code § 152.702, part of Texas’s Business Organizations Code — governs the formation and operation of corporations, LLCs, and partnerships.
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§ 152.702. PERSONS ELIGIBLE TO WIND UP PARTNERSHIP BUSINESS.
Official statutory text
(a) After the occurrence of an event requiring a winding up of a partnership business, the partnership business may be wound up by:
(1) the partners who have not withdrawn;
(2) the legal representative of the last surviving partner; or
(3) a person appointed by the court to carry out the winding up under Subsection (b).
(b) On application of a partner, a partner's legal representative or transferee, or a withdrawn partner whose interest is not redeemed under Section 152.608, a court, for good cause, may appoint a person to carry out the winding up and may make an order, direction, or inquiry that the circumstances require.
(1) the partners who have not withdrawn;
(2) the legal representative of the last surviving partner; or
(3) a person appointed by the court to carry out the winding up under Subsection (b).
(b) On application of a partner, a partner's legal representative or transferee, or a withdrawn partner whose interest is not redeemed under Section 152.608, a court, for good cause, may appoint a person to carry out the winding up and may make an order, direction, or inquiry that the circumstances require.
Status: in_force · Read it on the official government site
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