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Tex. Business Organizations Code § 152.602

REDEMPTION PRICE

Texas · Texas Business Organizations Code · Status: effective

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Tex. Business Organizations Code § 152.602, REDEMPTION PRICE, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/584041
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(a) Except as provided by Subsection (b) , the redemption price of a withdrawn partner's partnership interest is the fair value of the interest on the date of withdrawal. (b) The redemption price of the partnership interest of a partner who wrongfully withdraws before the expiration of the partnership's period of duration, the completion of a particular undertaking, or the occurrence of a specified event requiring a winding up of partnership business is the lesser of: (1) the fair value of the withdrawn partner's partnership interest on the date of withdrawal; or (2) the amount that the withdrawn partner would have received if an event requiring a winding up of partnership business had occurred at the time of the partner's withdrawal. (c) Interest is payable on the amount owed under this section.