152.406 – EFFECT OF DEATH OR DIVORCE ON PARTNERSHIP
Texas Business Organizations Code § 152.406
Summary
This law addresses the impact of a partner's death or divorce on their partnership interest. It specifies that a partner's spouse may acquire a partnership interest upon divorce, and outlines the rights of a surviving spouse or heirs after a partner's death.
Spouse may gain partnership interest upon divorce.
Surviving spouse and heirs have rights after a partner's death.
Partnership interest may be subject to redemption.
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In simple terms: Learn about Texas's EFFECT OF DEATH OR DIVORCE ON PARTNERSHIP 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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