This section provides definitions relevant to the Texas Business Organizations Code, specifically outlining what constitutes a 'capital account' for partners in a partnership. It affects partnerships by clarifying how to calculate a partner's financial contributions and distributions.
Defines 'capital account' for partnerships.
Includes contributions and profit allocations in calculations.
Accounts for distributions to partners in the total.
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In simple terms: Learn about Texas's DEFINITIONS. In this title: law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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