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Current as of January 01, 2024 | Updated by Findlaw Staff
A person who is both a general partner and a limited partner:
(1) has the rights and powers and is subject to the restrictions and liabilities of a general partner; and
(2) except as otherwise provided by the partnership agreement, this chapter, or the other limited partnership provisions, has the rights and powers and is subject to the restrictions and liabilities, if any, of a limited partner to the extent of the general partner's participation in the partnership as a limited partner.
Cite this article: FindLaw.com - Texas Business Organizations Code - BUS ORG § 153.153. Powers and Liabilities of Person Who is Both General Partner and Limited Partner - last updated January 01, 2024 | https://codes.findlaw.com/tx/business-organizations-code/bus-org-sect-153-153/
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 before relying on it for your legal needs.
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