152.608 – DEFERRED PAYMENT ON WRONGFUL WITHDRAWAL. (a) A
Texas Business Organizations Code § 152.608
Summary
This law addresses the consequences for a partner who wrongfully withdraws from a partnership before its designated end. Such a partner cannot receive any payment for their share until the partnership's obligations are fulfilled or the specified conditions are met.
Applies to partners withdrawing before partnership completion.
Prevents immediate payment to wrongfully withdrawing partners.
Payment is deferred until specific conditions are satisfied.
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In simple terms: Learn about Texas's DEFERRED PAYMENT ON WRONGFUL WITHDRAWAL. (a) 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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