Dissolution Public Notice
(TX General Partnership)

Summary

This template is used to put all potential creditors on notice of a Texas general partnership's dissolution. This template includes practical guidance and drafting notes. Upon the occurrence an event requiring the dissolution of the partnership, the partnership business may be wound by (1) the partners who have not withdrawn, (2) the legal representative of the last surviving partner, or (3) a person appointed by the court to carry out the winding up of the partnership. Tex. Bus. Orgs. Code § 152.702. When winding up the business, partnership property (including any required contributions of the partners) must first be applied to discharge the partnership's obligations to creditors, including partners who are creditors (other than in their capacities as partners). Tex. Bus. Orgs. Code § 152.706. For guidance on dissolution and Texas general partnerships, see General Partnerships (TX). For a template dissolution notice to creditors, see Dissolution Notice (TX General Partnership); for a from partnership dissolution agreement, see Dissolution and Winding Up Agreement (TX General Partnership). For information on partnership continuity and winding up, see Egan on Entities (CSC) 3.9.