152.602 – REDEMPTION PRICE. (a) Except as provided by
Texas Business Organizations Code § 152.602
Summary
This law outlines how to determine the redemption price for a partner's interest when they withdraw from a partnership. It specifies that the price is generally based on the fair value at the time of withdrawal, but different rules apply if the withdrawal is wrongful.
Redemption price is typically the fair value at withdrawal.
Wrongful withdrawal alters the redemption price calculation.
Applies to partnerships in Texas regarding partner withdrawals.
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In simple terms: Learn about Texas's REDEMPTION PRICE. (a) Except as provided by 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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