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Current as of April 14, 2021 | Updated by FindLaw Staff
(a) Except as provided by this section, the following provisions of Title 1 1 may not be waived or modified in the partnership agreement of a limited partnership:
(1) Chapter 1, if the provision is used to interpret a provision or define a word or phrase contained in a section listed in this subsection;
(2) Chapter 2, other than Section 2.104(c)(2), 2.104(c)(3), or 2.113;
(3) Chapter 3, other than Subchapters C and E 2 of that chapter and Section 3.151 (provided, that in all events a partnership agreement may not validly waive or modify Section 153.551 or unreasonably restrict a partner's right of access to books and records under Section 153.552); or
(4) Chapter 4, 5, 10, 11, or 12, other than Section 11.058.
(b) A provision listed in Subsection (a) may be waived or modified in the partnership agreement if the provision that is waived or modified authorizes the limited partnership to waive or modify the provision in the limited partnership's governing documents.
(c) A provision listed in Subsection (a) may be modified in the partnership agreement if the provision that is modified specifies:
(1) the person or group of persons who are entitled to approve a modification; or
(2) the vote or other method by which a modification is required to be approved.
Cite this article: FindLaw.com - Texas Business Organizations Code - BUS ORG § 153.004. Nonwaivable Title 1 Provisions - last updated April 14, 2021 | https://codes.findlaw.com/tx/business-organizations-code/bus-org-sect-153-004/
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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