Texas Business Organizations Code

Sec. § 152.303
Liability of Partnership for Conduct of Partner


(a)

A partnership is liable for loss or injury to a person, including a partner, or for a penalty caused by or incurred as a result of a wrongful act or omission or other actionable conduct of a partner acting:

(1)

in the ordinary course of business of the partnership; or

(2)

with the authority of the partnership.

(b)

A partnership is liable for the loss of money or property of a person who is not a partner that is:

(1)

received in the course of the partnership’s business; and

(2)

misapplied by a partner while in the custody of the partnership.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Source

Last accessed
Jun. 7, 2021