Estates Code › Title 3 › Chapter 1151 › Subchapter D

Texas Estates Code § 1151.154

Administration of Partnership Interest

Rights, Powers, and Duties under Guardianship · Possession and Care of Ward's Property by Guardian of the Estate

(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.

Official text of the Texas Estates Code as published by the Texas Legislative Council.

Official source
Legislative history

Added by Acts 2011, 82nd Leg., R.S., Ch. 823 (H.B. 2759), Sec. 1.02, eff. January 1, 2014.