152.603 – CONTRIBUTION OBLIGATION. If a wrongfully
Texas Business Organizations Code § 152.603
Summary
This law holds a partner who wrongfully withdraws from a partnership responsible for making required contributions. If the partnership were winding up at the time of withdrawal, the partner must contribute the owed amount plus interest.
Applies to partners who withdraw wrongfully.
Requires contribution equivalent to what would be owed during winding up.
Includes interest on the owed contribution amount.
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In simple terms: Learn about Texas's CONTRIBUTION OBLIGATION. If a wrongfully 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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