152.702 – PERSONS ELIGIBLE TO WIND UP PARTNERSHIP BUSINESS.
Texas Business Organizations Code § 152.702
Summary
This law outlines who is authorized to wind up a partnership's business after a triggering event. It primarily affects partners, their legal representatives, and court-appointed individuals involved in the winding-up process.
Eligible wind-up individuals include remaining partners and legal representatives.
Court can appoint a person to manage the winding up.
Applies after specific events necessitating business closure.
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In simple terms: Learn about Texas's PERSONS ELIGIBLE TO WIND UP PARTNERSHIP BUSINESS. 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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