153.209 – INTERIM DISTRIBUTIONS. Except as otherwise
Texas Business Organizations Code § 153.209
Summary
This law allows partners in a limited partnership to receive distributions as specified in the partnership agreement before they withdraw or the partnership is wound up. It ensures that partners can access their entitled distributions during the partnership's operation.
Partners can receive distributions as per the partnership agreement.
Distributions occur before withdrawal or winding up.
Section outlines specific conditions for interim distributions.
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In simple terms: Learn about Texas's INTERIM DISTRIBUTIONS. Except as otherwise 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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