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Current as of January 01, 2024 | Updated by FindLaw Staff
To effect an interest exchange:
(1) the partnership agreement of each domestic partnership whose partnership interests are to be acquired pursuant to the plan of exchange must authorize the partnership interest exchange adopted by the partnership;
(2) each domestic partnership whose partnership interests are to be acquired under the plan of exchange must approve the plan of exchange in the manner prescribed by its partnership agreement; and
(3) each acquiring domestic partnership must take all actions that may be required by its partnership agreement in order to effect the exchange.
Cite this article: FindLaw.com - Texas Business Organizations Code - BUS ORG § 10.056. Special Provisions Applying to Partnerships - last updated January 01, 2024 | https://codes.findlaw.com/tx/business-organizations-code/bus-org-sect-10-056/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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