Section 153.206 - Allocation of Profits and Losses(a) The profits and losses of a limited partnership shall be allocated among the partners in the manner provided by a written partnership agreement.(b) If a written partnership agreement does not provide for the allocation of profits and losses, the profits and losses shall be allocated:(1) in accordance with the current percentage or other interest in the partnership stated in partnership records of the kind described by Section 153.551(a); or(2) if the allocation of profits and losses is not provided for in partnership records of the kind described by Section 153.551(a), in proportion to capital accounts.Tex. Bus. Org. Code § 153.206
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. 1/1/2006.