Texas Statutes (Last Updated: January 4, 2014) |
BUSINESS ORGANIZATIONS CODE |
Title 4. PARTNERSHIPS |
Chapter 152. GENERAL PARTNERSHIPS |
Subchapter E. RELATIONSHIP BETWEEN PARTNERS AND OTHER PERSONS |
Sec. 152.306. ENFORCEMENT OF REMEDY
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(a) A judgment against a partnership is not by itself a judgment against a partner. A judgment may be entered against a partner who has been served with process in a suit against the partnership.
(b) Except as provided by Subsection (c), a creditor may proceed against one or more partners or the property of the partners to satisfy a judgment based on a claim against the partnership only if a judgment:
(1) is also obtained against the partner; and
(2) based on the same claim:
(A) is obtained against the partnership;
(B) has not been reversed or vacated; and
(C) remains unsatisfied for 90 days after:
(i) the date on which the judgment is entered; or
(ii) the date on which the stay expires, if the judgment is contested by appropriate proceedings and execution on the judgment is stayed.
(c) Subsection (b) does not prohibit a creditor from proceeding directly against one or more partners or the property of the partners without first seeking satisfaction from partnership property if:
(1) the partnership is a debtor in bankruptcy;
(2) the creditor and the partnership agreed that the creditor is not required to comply with Subsection (b);
(3) a court orders otherwise, based on a finding that partnership property subject to execution in the state is clearly insufficient to satisfy the judgment or that compliance with Subsection (b) is excessively burdensome; or
(4) liability is imposed on the partner by law independently of the person's status as a partner.
(d) This section does not limit the effect of Section 152.801 with respect to a limited liability partnership.