Business Organizations Code revisor's report, part 4

whether currently due, including interest,
against the redemption price payable to the
withdrawn partner.
Revisor's Note
No substantive change is intended.
Revised Law
Sec. 152.605. ACCRUAL OF INTEREST. Interest payable under
Sections 152.602-152.604 accrues from the date of the withdrawal
to the date of payment. (TRPA 7.01(e).)
Source Law
(e) Interest. Interest owed under
Subsection (b), (c), or (d) accrues from the
date of the withdrawal to the date of
payment.
Revisor's Note
No substantive change is intended.
Revised Law
Sec. 152.606. INDEMNIFICATION FOR CERTAIN LIABILITY. (a) A
partnership shall indemnify a withdrawn partner against a
partnership liability incurred before the date of withdrawal,
except for a liability:
(1) that is unknown to the partnership at the time; or
(2) incurred by an act of the withdrawn partner under
Section 152.504.
(b) For purposes of this section, a liability is unknown to
the partnership if it is not known to a partner other than the
withdrawn partner. (TRPA 7.01(f).)
Source Law
(f) Indemnity. (1) A partnership
shall indemnify a withdrawn partner against a
partnership liability incurred before the
withdrawal except a liability:
(A) then unknown to the
partnership; or
(B) incurred by an act of the
withdrawn partner under Section 7.02.
(2) For purposes of this
subsection, a liability not known to a
partner other than the withdrawn partner is
not known to the partnership.
Revisor's Note
No substantive change is intended.