153.109 – LIABILITY OF ERRONEOUS CONTRIBUTOR. Regardless
Texas Business Organizations Code § 153.109
Summary
This law establishes that a person who makes a contribution to a partnership, despite knowing that no certificate has been filed, can be held liable as a general partner to third parties. It primarily affects individuals contributing to partnerships without proper registration.
Liability applies to contributors aware of missing certificates.
Contributors can be treated as general partners.
Third parties can seek recourse against these contributors.
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In simple terms: Learn about Texas's LIABILITY OF ERRONEOUS CONTRIBUTOR. Regardless 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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