152.607 – DEMAND OR PAYMENT OF ESTIMATED REDEMPTION. (a)
Texas Business Organizations Code § 152.607
Summary
This law outlines the obligations of a partnership regarding the payment of a withdrawn partner's estimated redemption price. If an agreement on the redemption price is not reached within a specified timeframe, the partnership must make a cash payment to the withdrawn partner based on its estimate.
Partnership must pay estimated redemption price if no agreement is reached.
Payment is due within 30 days after the 121-day demand period.
Applies when deferred payment is not authorized.
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In simple terms: Learn about Texas's DEMAND OR PAYMENT OF ESTIMATED REDEMPTION. (a) 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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