Texas Statutes (Last Updated: January 4, 2014) |
BUSINESS ORGANIZATIONS CODE |
Title 4. PARTNERSHIPS |
Chapter 153. LIMITED PARTNERSHIPS |
Subchapter E. FINANCES |
Sec. 153.209. INTERIM DISTRIBUTIONS
Latest version.
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Except as otherwise provided by this section and Section 153.210, a partner is entitled to receive a distribution from a limited partnership to the extent and at the time or on the occurrence of an event specified in the partnership agreement before:
(1) the partner withdraws from the partnership; and
(2) the winding up of the partnership business.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.