154.202 – EFFECT OF PARTNER CHANGE ON RELATIONSHIP BETWEEN
Texas Business Organizations Code § 154.202
Summary
This law clarifies that the addition or withdrawal of partners in a partnership does not alter the existing relationship between the partnership and its creditors. It ensures that creditors' rights remain intact regardless of changes in partnership composition.
Creditor relationships remain unchanged by partner changes.
Withdrawal of a partner does not affect creditor rights.
Adding a new partner does not alter existing obligations.
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In simple terms: Learn about Texas's EFFECT OF PARTNER CHANGE ON RELATIONSHIP BETWEEN 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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