Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.
Section 1151.154 - Administration of Partnership Interest(a) This section applies only to a general partnership governed by a partnership agreement or articles of partnership that provide that, on the incapacity of a partner, the guardian of the estate of the partner is entitled to the place of the incapacitated partner in the partnership.(b) If a ward was a partner in a general partnership, the guardian who contracts to come into the partnership is, to the extent allowed by law, liable to a third person only to the extent of: (1) the incapacitated partner's capital in the partnership; and(2) the assets of the incapacitated partner's estate that are held by the guardian.(c) This section does not exonerate a guardian from liability for the guardian's negligence.Added by Acts 2011, 82nd Leg., R.S., Ch. 823, Sec. 1.02, eff. 1/1/2014.