153.503 – POWERS OF PERSON CONDUCTING WIND UP. (a) After
Texas Business Organizations Code § 153.503
Summary
This law outlines the powers granted to a person responsible for winding up a limited partnership's business after a triggering event. It specifies actions they can take until the partnership is officially terminated, unless otherwise stated in a written agreement.
Applies to limited partnerships undergoing winding up.
Allows specified actions until termination certificate is filed.
Written agreements can modify these powers.
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In simple terms: Learn about Texas's POWERS OF PERSON CONDUCTING WIND UP. (a) After 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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