152.801 – LIABILITY OF PARTNER. (a) Except as provided by
Texas Business Organizations Code § 152.801
Summary
This law establishes that partners in a limited liability partnership are generally not personally liable for the partnership's obligations, unless stated otherwise in the partnership agreement. This protection is crucial for partners, as it limits their financial exposure to the partnership's debts and liabilities.
Partners are not personally liable for partnership obligations.
Liability protection applies unless the partnership agreement states otherwise.
This section reinforces limited liability for partners in limited liability partnerships.
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In simple terms: Learn about Texas's LIABILITY OF PARTNER. (a) Except as provided by 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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