152.610 – DEFERRED PAYMENT ON WINDING UP PARTNERSHIP. If a
Texas Business Organizations Code § 152.610
Summary
This law allows a partnership to delay payment to a partner who withdraws if a winding up event occurs within 60 days of their withdrawal. It ensures that the withdrawn partner's payment is made only after the remaining partners receive their distributions during the winding up process.
Partners can defer payment after withdrawal if winding up occurs within 60 days.
Payment is made after distributions to remaining partners.
Redemption price is based on the partner's contribution amount.
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In simple terms: Learn about Texas's DEFERRED PAYMENT ON WINDING UP PARTNERSHIP. If 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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