Tex. Bus. Org. Code § 152.205

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 152.205 - Partner's Duty of Loyalty

A partner's duty of loyalty includes:

(1) accounting to and holding for the partnership property, profit, or benefit derived by the partner:

(A) in the conduct and winding up of the partnership business; or

(B) from use by the partner of partnership property;

(2) refraining from dealing with the partnership on behalf of a person who has an interest adverse to the partnership; and

(3) refraining from competing or dealing with the partnership in a manner adverse to the partnership.

Tex. Bus. Org. Code § 152.205

Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. 1/1/2006.