Tex. Bus. Orgs. Code Section 302.002
Duration of Professional Association

A professional association continues:

(1)

for all purposes as a separate entity independent of the association’s members until:

(A)

the expiration of the period of duration stated in the certificate of formation; or

(B)

the association is wound up and terminated in the manner provided by the certificate of formation or, if the certificate of formation does not provide a manner for winding up and termination, by a two-thirds vote of the association’s members; and

(2)

in existence notwithstanding:

(A)

the death, insanity, incompetency, felony conviction, resignation, withdrawal, transfer of ownership interest, or expulsion of a member other than the last surviving member of the association;

(B)

the admission of a new member or the transfer of ownership interest to a new or existing member; or

(C)

the occurrence of an event that would require the winding up of a partnership under state law or similar circumstances.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.

Source: Section 302.002 — Duration of Professional Association, https://statutes.­capitol.­texas.­gov/Docs/BO/htm/BO.­302.­htm#302.­002 (accessed May 4, 2024).

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Accessed:
May 4, 2024

§ 302.002’s source at texas​.gov