153.208 – SHARING OF DISTRIBUTIONS. (a) A distribution of
Texas Business Organizations Code § 153.208
Summary
This law governs how distributions of cash or assets are shared among partners in a limited partnership. It stipulates that distributions should follow the terms of the written partnership agreement or, in the absence of such terms, be based on the agreed value of each partner's contributions.
Distributions must follow the written partnership agreement.
If no agreement exists, distributions are based on contribution value.
Applies specifically to limited partnerships.
Frequently Asked Questions
Why Attorneys Choose FlawFinder
Side-by-side with Westlaw and LexisNexis
Feature
FlawFinder
Westlaw
LexisNexis
Monthly price
$19 - $99
$133 - $646
$153 - $399
Contract
None
1-3 year min
1-6 year min
Hidden fees
$0, always
Up to $469/search
$25/mo + per-doc
Police SOPs
✓ 310+ departments
✗
✗
Zero-hallucination AI
✓ CitationGuard
✗
✗
Cancel
One click
Termination fees
No option to cancel
Explain Like I'm 5
In simple terms: Learn about Texas's SHARING OF DISTRIBUTIONS. (a) A distribution of law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
FlawFinder provides legal information, not legal advice. Consult a licensed attorney for specific legal guidance.