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Texas Business Organizations Code - BUS ORG § 153.253. Rights of Assignee

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) An assignee of a partnership interest, including the partnership interest of a general partner, may become a limited partner if and to the extent that:

(1) the partnership agreement provides; or

(2) all partners consent.

(b) An assignee who becomes a limited partner, to the extent of the rights and powers assigned, has the rights and powers and is subject to the restrictions and liabilities of a limited partner under a partnership agreement and this code.

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Cite this article: FindLaw.com - Texas Business Organizations Code - BUS ORG § 153.253. Rights of Assignee - last updated January 01, 2024 | https://codes.findlaw.com/tx/business-organizations-code/bus-org-sect-153-253/

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