153.207 – RIGHT TO DISTRIBUTION. Subject to Section
Texas Business Organizations Code § 153.207
Summary
This law grants partners in a limited partnership the same rights as creditors when they are entitled to a distribution. It ensures that partners can seek remedies if distributions are not made as required. This affects partners in limited partnerships who are awaiting distributions.
Partners gain creditor-like rights upon entitlement to distributions.
Partners can pursue remedies for unpaid distributions.
Applies specifically to limited partnerships.
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In simple terms: Learn about Texas's RIGHT TO DISTRIBUTION. Subject to Section 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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