Texas Statutes
Business Organizations Code
Title 4 - Partnerships

Section 152.002. Effect of Partnership Agreement; Nonwaivable and Variable Provisions - Sec. 152.002. EFFECT OF PARTNERSHIP AGREEMENT; NONWAIVABLE AND VARIABLE PROVISIONS....

Section 152.003. Supplemental Principles of Law - Sec. 152.003. SUPPLEMENTAL PRINCIPLES OF LAW. The principles of law...

Section 152.004. Rule of Statutory Construction Not Applicable - Sec. 152.004. RULE OF STATUTORY CONSTRUCTION NOT APPLICABLE. The rule...

Section 152.005. Applicable Interest Rate - Sec. 152.005. APPLICABLE INTEREST RATE. If an obligation to pay...

Subchapter B. Nature and Creation of Partnership

Section 152.051. Partnership Defined - Sec. 152.051. PARTNERSHIP DEFINED. (a) In this section, "association" does...

Section 152.052. Rules for Determining if Partnership Is Created - Sec. 152.052. RULES FOR DETERMINING IF PARTNERSHIP IS CREATED. (a)...

Section 152.053. Qualifications to Be Partner; Nonpartner's Liability to Third Person - Sec. 152.053. QUALIFICATIONS TO BE PARTNER; NONPARTNER'S LIABILITY TO THIRD...

Section 152.054. False Representation of Partnership or Partner - Sec. 152.054. FALSE REPRESENTATION OF PARTNERSHIP OR PARTNER. (a) A...

Section 152.055. Authority of Certain Professionals to Create Partnership - Sec. 152.055. AUTHORITY OF CERTAIN PROFESSIONALS TO CREATE PARTNERSHIP. (a)...

Section 152.0551. Partnerships Formed by Physicians and Physician Assistants - Sec. 152.0551. PARTNERSHIPS FORMED BY PHYSICIANS AND PHYSICIAN ASSISTANTS. (a)...

Section 152.056. Partnership as Entity - Sec. 152.056. PARTNERSHIP AS ENTITY. A partnership is an entity...

Subchapter C. Partnership Property

Section 152.101. Nature of Partnership Property - Sec. 152.101. NATURE OF PARTNERSHIP PROPERTY. Partnership property is not...

Section 152.102. Classification as Partnership Property - Sec. 152.102. CLASSIFICATION AS PARTNERSHIP PROPERTY. (a) Property is partnership...

Subchapter D. Relationship Between Partners and Between Partners and Partnerships

Section 152.201. Admission as Partner - Sec. 152.201. ADMISSION AS PARTNER. A person may become a...

Section 152.202. Credits of and Charges to Partner - Sec. 152.202. CREDITS OF AND CHARGES TO PARTNER. (a) Each...

Section 152.203. Rights and Duties of Partner - Sec. 152.203. RIGHTS AND DUTIES OF PARTNER. (a) Each partner...

Section 152.204. General Standards of Partner's Conduct - Sec. 152.204. GENERAL STANDARDS OF PARTNER'S CONDUCT. (a) A partner...

Section 152.205. Partner's Duty of Loyalty - Sec. 152.205. PARTNER'S DUTY OF LOYALTY. A partner's duty of...

Section 152.206. Partner's Duty of Care - Sec. 152.206. PARTNER'S DUTY OF CARE. (a) A partner's duty...

Section 152.207. Standards of Conduct Applicable to Person Winding Up Partnership Business - Sec. 152.207. STANDARDS OF CONDUCT APPLICABLE TO PERSON WINDING UP...

Section 152.209. Decision-Making Requirement - Sec. 152.209. DECISION-MAKING REQUIREMENT. (a) A difference arising in a...

Section 152.210. Partner's Liability to Partnership and Other Partners - Sec. 152.210. PARTNER'S LIABILITY TO PARTNERSHIP AND OTHER PARTNERS. A...

Section 152.211. Remedies of Partnership and Partners - Sec. 152.211. REMEDIES OF PARTNERSHIP AND PARTNERS. (a) A partnership...

Section 152.212. Books and Records of Partnership - Sec. 152.212. BOOKS AND RECORDS OF PARTNERSHIP. (a) In this...

Section 152.213. Information Regarding Partnership - Sec. 152.213. INFORMATION REGARDING PARTNERSHIP. (a) On request and to...

Section 152.214. Certain Third-Party Obligations Not Affected - Sec. 152.214. CERTAIN THIRD-PARTY OBLIGATIONS NOT AFFECTED. Sections 152. 203,...

Subchapter E. Relationship Between Partners and Other Persons

Section 152.301. Partner as Agent - Sec. 152.301. PARTNER AS AGENT. Each partner is an agent...

Section 152.302. Binding Effect of Partner's Action - Sec. 152.302. BINDING EFFECT OF PARTNER'S ACTION. (a) Unless a...

Section 152.303. Liability of Partnership for Conduct of Partner - Sec. 152.303. LIABILITY OF PARTNERSHIP FOR CONDUCT OF PARTNER. (a)...

Section 152.304. Nature of Partner's Liability - Sec. 152.304. NATURE OF PARTNER'S LIABILITY. (a) Except as provided...

Section 152.305. Remedy - Sec. 152.305. REMEDY. An action may be brought against a...

Section 152.306. Enforcement of Remedy - Sec. 152.306. ENFORCEMENT OF REMEDY. (a) A judgment against a...

Section 152.307. Extension of Credit in Reliance on False Representation - Sec. 152.307. EXTENSION OF CREDIT IN RELIANCE ON FALSE REPRESENTATION....

Section 152.308. Partner's Partnership Interest Subject to Charging Order - Sec. 152.308. PARTNER'S PARTNERSHIP INTEREST SUBJECT TO CHARGING ORDER. (a)...

Subchapter F. Transfer of Partnership Interests

Section 152.401. Transfer of Partnership Interest - Sec. 152.401. TRANSFER OF PARTNERSHIP INTEREST. A partner may transfer...

Section 152.402. General Effect of Transfer - Sec. 152.402. GENERAL EFFECT OF TRANSFER. A transfer of all...

Section 152.403. Effect of Transfer on Transferor - Sec. 152.403. EFFECT OF TRANSFER ON TRANSFEROR. After transfer, the...

Section 152.404. Rights and Duties of Transferee - Sec. 152.404. RIGHTS AND DUTIES OF TRANSFEREE. (a) A transferee...

Section 152.405. Power to Effect Transfer or Grant of Security Interest - Sec. 152.405. POWER TO EFFECT TRANSFER OR GRANT OF SECURITY...

Section 152.406. Effect of Death or Divorce on Partnership Interest - Sec. 152.406. EFFECT OF DEATH OR DIVORCE ON PARTNERSHIP INTEREST....

Subchapter G. Withdrawal of Partner

Section 152.501. Events of Withdrawal - Sec. 152.501. EVENTS OF WITHDRAWAL. (a) A person ceases to...

Section 152.502. Effect of Event of Withdrawal on Partnership and Other Partners - Sec. 152.502. EFFECT OF EVENT OF WITHDRAWAL ON PARTNERSHIP AND...

Section 152.503. Wrongful Withdrawal; Liability - Sec. 152.503. WRONGFUL WITHDRAWAL; LIABILITY. (a) At any time before...

Section 152.504. Withdrawn Partner's Power to Bind Partnership - Sec. 152.504. WITHDRAWN PARTNER'S POWER TO BIND PARTNERSHIP. (a) The...

Section 152.505. Effect of Withdrawal on Partner's Existing Liability - Sec. 152.505. EFFECT OF WITHDRAWAL ON PARTNER'S EXISTING LIABILITY. (a)...

Section 152.506. Liability of Withdrawn Partner to Third Party - Sec. 152.506. LIABILITY OF WITHDRAWN PARTNER TO THIRD PARTY. A...

Subchapter H. Redemption of Withdrawing Partner's or Transferee's Interest

Section 152.601. Redemption if Partnership Not Wound Up - Sec. 152.601. REDEMPTION IF PARTNERSHIP NOT WOUND UP. The partnership...

Section 152.602. Redemption Price - Sec. 152.602. REDEMPTION PRICE. (a) Except as provided by Subsection...

Section 152.603. Contribution Obligation - Sec. 152.603. CONTRIBUTION OBLIGATION. If a wrongfully withdrawing partner would...

Section 152.604. Setoff for Certain Damages - Sec. 152.604. SETOFF FOR CERTAIN DAMAGES. The partnership may set...

Section 152.605. Accrual of Interest - Sec. 152.605. ACCRUAL OF INTEREST. Interest payable under Sections 152.602-152.604...

Section 152.606. Indemnification of Withdrawn Partner - Sec. 152.606. INDEMNIFICATION OF WITHDRAWN PARTNER. A partnership shall indemnify...

Section 152.607. Demand or Payment of Estimated Redemption - Sec. 152.607. DEMAND OR PAYMENT OF ESTIMATED REDEMPTION. (a) If...

Section 152.608. Deferred Payment on Wrongful Withdrawal - Sec. 152.608. DEFERRED PAYMENT ON WRONGFUL WITHDRAWAL. (a) A partner...

Section 152.609. Action to Determine Terms of Redemption - Sec. 152.609. ACTION TO DETERMINE TERMS OF REDEMPTION. (a) A...

Section 152.610. Deferred Payment on Winding Up Partnership - Sec. 152.610. DEFERRED PAYMENT ON WINDING UP PARTNERSHIP. If a...

Section 152.611. Redemption of Transferee's Partnership Interest - Sec. 152.611. REDEMPTION OF TRANSFEREE'S PARTNERSHIP INTEREST. (a) A partnership...

Section 152.612. Action to Determine Transferee's Redemption Price - Sec. 152.612. ACTION TO DETERMINE TRANSFEREE'S REDEMPTION PRICE. (a) A...

Subchapter I. Supplemental Winding Up and Termination Provisions

Section 152.701. Effect of Event Requiring Winding Up - Sec. 152.701. EFFECT OF EVENT REQUIRING WINDING UP. On the...

Section 152.702. Persons Eligible to Wind Up Partnership Business - Sec. 152.702. PERSONS ELIGIBLE TO WIND UP PARTNERSHIP BUSINESS. (a)...

Section 152.703. Rights and Duties of Person Winding Up Partnership Business - Sec. 152.703. RIGHTS AND DUTIES OF PERSON WINDING UP PARTNERSHIP...

Section 152.704. Binding Effect of Partner's Action After Event Requiring Winding Up - Sec. 152.704. BINDING EFFECT OF PARTNER'S ACTION AFTER EVENT REQUIRING...

Section 152.705. Partner's Liability to Other Partners After Event Requiring Winding Up - Sec. 152.705. PARTNER'S LIABILITY TO OTHER PARTNERS AFTER EVENT REQUIRING...

Section 152.706. Disposition of Assets - Sec. 152.706. DISPOSITION OF ASSETS. (a) In winding up the...

Section 152.707. Settlement of Accounts - Sec. 152.707. SETTLEMENT OF ACCOUNTS. (a) Each partner is entitled...

Section 152.708. Contributions to Discharge Obligations - Sec. 152.708. CONTRIBUTIONS TO DISCHARGE OBLIGATIONS. (a) Except as provided...

Section 152.710. Reinstatement - Sec. 152.710. REINSTATEMENT. To approve a reinstatement of a partnership...

Subchapter J. Limited Liability Partnerships

Section 152.801. Liability of Partner - Sec. 152.801. LIABILITY OF PARTNER. (a) Except as provided by...

Section 152.802. Registration - Sec. 152.802. REGISTRATION. (a) In addition to complying with Section...

Section 152.803. Name - Sec. 152.803. NAME. The name of a limited liability partnership...

Section 152.805. Limited Partnership - Sec. 152.805. LIMITED PARTNERSHIP. A limited partnership may become a...

Section 152.806. Annual Report - Sec. 152.806. ANNUAL REPORT. (a) Not later than June 1...

Subchapter K. Foreign Limited Liability Partnerships

Section 152.901. General - Sec. 152.901. GENERAL. (a) A foreign limited liability partnership is...

Section 152.902. Name - Sec. 152.902. NAME. The name of a foreign limited liability...

Section 152.903. Activities Not Constituting Transacting Business - Sec. 152.903. ACTIVITIES NOT CONSTITUTING TRANSACTING BUSINESS. Without excluding other...

Section 152.904. Registered Agent and Registered Office - Sec. 152.904. REGISTERED AGENT AND REGISTERED OFFICE. A foreign limited...

Section 152.905. Registration Procedure - Sec. 152.905. REGISTRATION PROCEDURE. (a) Before transacting business in this...

Section 152.906. Withdrawal of Registration - Sec. 152.906. WITHDRAWAL OF REGISTRATION. (a) A registration may be...

Section 152.907. Effect of Certificate of Withdrawal - Sec. 152.907. EFFECT OF CERTIFICATE OF WITHDRAWAL. A certificate of...

Section 152.908. Renewal of Registration - Sec. 152.908. RENEWAL OF REGISTRATION. (a) An effective registration may...

Section 152.909. Action by Secretary of State - Sec. 152.909. ACTION BY SECRETARY OF STATE. The secretary of...

Section 152.910. Effect of Failure to Register - Sec. 152.910. EFFECT OF FAILURE TO REGISTER. (a) A foreign...

Section 152.912. Execution of Application for Amendment - Sec. 152.912. EXECUTION OF APPLICATION FOR AMENDMENT. The application for...

Section 152.913. Execution of Statement of Change of Registered Office or Registered Agent - Sec. 152.913. EXECUTION OF STATEMENT OF CHANGE OF REGISTERED OFFICE...

Section 152.914. Revocation of Registration by Secretary of State - Sec. 152.914. REVOCATION OF REGISTRATION BY SECRETARY OF STATE. (a)...

Chapter 153 - Limited Partnerships

Subchapter A. General Provisions

Section 153.001. Definition - Sec. 153.001. DEFINITION. In this chapter, "other limited partnership provisions"...

Section 153.002. Construction - Sec. 153.002. CONSTRUCTION. (a) This chapter and the other limited...

Section 153.003. Applicability of Other Laws - Sec. 153.003. APPLICABILITY OF OTHER LAWS. (a) Except as provided...

Section 153.004. Nonwaivable Title 1 Provisions - Sec. 153.004. NONWAIVABLE TITLE 1 PROVISIONS. (a) Except as provided...

Section 153.005. Waiver or Modification of Rights of Third Parties - Sec. 153.005. WAIVER OR MODIFICATION OF RIGHTS OF THIRD PARTIES....

Subchapter B. Supplemental Provisions Regarding Amendment to Certificate of Formation

Section 153.051. Required Amendment to Certificate of Formation - Sec. 153.051. REQUIRED AMENDMENT TO CERTIFICATE OF FORMATION. (a) A...

Section 153.053. Restated Certificate of Formation - Sec. 153.053. RESTATED CERTIFICATE OF FORMATION. (a) The general partners...

Subchapter C. Limited Partners

Section 153.101. Admission of Limited Partners - Sec. 153.101. ADMISSION OF LIMITED PARTNERS. (a) In connection with...

Section 153.102. Liability to Third Parties - Sec. 153.102. LIABILITY TO THIRD PARTIES. (a) A limited partner...

Section 153.103. Actions Not Constituting Participation in Business for Liability Purposes - Sec. 153.103. ACTIONS NOT CONSTITUTING PARTICIPATION IN BUSINESS FOR LIABILITY...

Section 153.104. Enumeration of Actions Not Exclusive - Sec. 153.104. ENUMERATION OF ACTIONS NOT EXCLUSIVE. The enumeration in...

Section 153.105. Creation of Rights - Sec. 153.105. CREATION OF RIGHTS. Sections 153.103 and 153.104 do...

Section 153.106. Erroneous Belief of Contributor Being Limited Partner - Sec. 153.106. ERRONEOUS BELIEF OF CONTRIBUTOR BEING LIMITED PARTNER. Except...

Section 153.107. Statement Required for Liability Protection - Sec. 153.107. STATEMENT REQUIRED FOR LIABILITY PROTECTION. (a) A written...

Section 153.108. Requirements for Liability Protection Following Expiration of Statement - Sec. 153.108. REQUIREMENTS FOR LIABILITY PROTECTION FOLLOWING EXPIRATION OF STATEMENT....

Section 153.109. Liability of Erroneous Contributor - Sec. 153.109. LIABILITY OF ERRONEOUS CONTRIBUTOR. Regardless of whether Sections...

Section 153.110. Withdrawal of Limited Partner - Sec. 153.110. WITHDRAWAL OF LIMITED PARTNER. A limited partner may...

Section 153.111. Distribution on Withdrawal - Sec. 153.111. DISTRIBUTION ON WITHDRAWAL. Except as otherwise provided by...

Section 153.112. Receipt of Wrongful Distribution - Sec. 153.112. RECEIPT OF WRONGFUL DISTRIBUTION. A limited partner who...

Section 153.113. Powers of Estate of Limited Partner Who Is Deceased or Incapacitated - Sec. 153.113. POWERS OF ESTATE OF LIMITED PARTNER WHO IS...

Subchapter D. General Partners

Section 153.151. Admission of General Partners - Sec. 153.151. ADMISSION OF GENERAL PARTNERS. (a) After a limited...

Section 153.152. General Powers and Liabilities of General Partner - Sec. 153.152. GENERAL POWERS AND LIABILITIES OF GENERAL PARTNER. (a)...

Section 153.153. Powers and Liabilities of Person Who Is Both General Partner and Limited Partner - Sec. 153.153. POWERS AND LIABILITIES OF PERSON WHO IS BOTH...

Section 153.154. Contributions by and Distributions to General Partner - Sec. 153.154. CONTRIBUTIONS BY AND DISTRIBUTIONS TO GENERAL PARTNER. A...

Section 153.155. Withdrawal of General Partner - Sec. 153.155. WITHDRAWAL OF GENERAL PARTNER. (a) A person ceases...

Section 153.156. Notice of Event of Withdrawal - Sec. 153.156. NOTICE OF EVENT OF WITHDRAWAL. A general partner...

Section 153.157. Withdrawal of General Partner in Violation of Partnership Agreement - Sec. 153.157. WITHDRAWAL OF GENERAL PARTNER IN VIOLATION OF PARTNERSHIP...

Section 153.158. Effect of Withdrawal - Sec. 153.158. EFFECT OF WITHDRAWAL. (a) Unless otherwise provided by...

Section 153.159. Conversion of Partnership Interest After Withdrawal - Sec. 153.159. CONVERSION OF PARTNERSHIP INTEREST AFTER WITHDRAWAL. If the...

Section 153.160. Effect of Conversion of Partnership Interest - Sec. 153.160. EFFECT OF CONVERSION OF PARTNERSHIP INTEREST. (a) After...

Section 153.161. Liability of General Partner for Debt Incurred After Event of Withdrawal - Sec. 153.161. LIABILITY OF GENERAL PARTNER FOR DEBT INCURRED AFTER...

Section 153.162. Liability for Wrongful Withdrawal - Sec. 153.162. LIABILITY FOR WRONGFUL WITHDRAWAL. (a) If a general...

Subchapter E. Finances

Section 153.201. Form of Contribution - Sec. 153.201. FORM OF CONTRIBUTION. The contribution of a partner...

Section 153.202. Enforceability of Promise to Make Contribution - Sec. 153.202. ENFORCEABILITY OF PROMISE TO MAKE CONTRIBUTION. (a) A...

Section 153.203. Release of Obligation to Partnership - Sec. 153.203. RELEASE OF OBLIGATION TO PARTNERSHIP. Unless otherwise provided...

Section 153.204. Enforceability of Obligation - Sec. 153.204. ENFORCEABILITY OF OBLIGATION. (a) Notwithstanding a compromise or...

Section 153.205. Requirements to Enforce Conditional Obligation - Sec. 153.205. REQUIREMENTS TO ENFORCE CONDITIONAL OBLIGATION. (a) An obligation...

Section 153.206. Allocation of Profits and Losses - Sec. 153.206. ALLOCATION OF PROFITS AND LOSSES. (a) The profits...

Section 153.207. Right to Distribution - Sec. 153.207. RIGHT TO DISTRIBUTION. Subject to Section 153.210, when...

Section 153.208. Sharing of Distributions - Sec. 153.208. SHARING OF DISTRIBUTIONS. (a) A distribution of cash...

Section 153.209. Interim Distributions - Sec. 153.209. INTERIM DISTRIBUTIONS. Except as otherwise provided by this...

Section 153.210. Limitation on Distribution - Sec. 153.210. LIMITATION ON DISTRIBUTION. (a) Unless the distribution is...

Subchapter F. Partnership Interest

Section 153.251. Assignment of Partnership Interest - Sec. 153.251. ASSIGNMENT OF PARTNERSHIP INTEREST. (a) Except as otherwise...

Section 153.252. Rights of Assignor - Sec. 153.252. RIGHTS OF ASSIGNOR. (a) Except as otherwise provided...

Section 153.253. Rights of Assignee - Sec. 153.253. RIGHTS OF ASSIGNEE. (a) An assignee of a...

Section 153.254. Liability of Assignee - Sec. 153.254. LIABILITY OF ASSIGNEE. (a) Until an assignee of...

Section 153.255. Liability of Assignor - Sec. 153.255. LIABILITY OF ASSIGNOR. Regardless of whether an assignee...

Section 153.256. Partner's Partnership Interest Subject to Charging Order - Sec. 153.256. PARTNER'S PARTNERSHIP INTEREST SUBJECT TO CHARGING ORDER. (a)...

Section 153.257. Exemption Laws Applicable to Partnership Interest Not Affected - Sec. 153.257. EXEMPTION LAWS APPLICABLE TO PARTNERSHIP INTEREST NOT AFFECTED....

Subchapter G. Reports

Section 153.301. Periodic Report - Sec. 153.301. PERIODIC REPORT. The secretary of state may require...

Section 153.302. Form and Contents of Report - Sec. 153.302. FORM AND CONTENTS OF REPORT. (a) The report...

Section 153.303. Filing Fee - Sec. 153.303. FILING FEE. The filing fee for the report...

Section 153.304. Delivery of Report - Sec. 153.304. DELIVERY OF REPORT. The report must be delivered...

Section 153.305. Action by Secretary of State - Sec. 153.305. ACTION BY SECRETARY OF STATE. (a) The secretary...

Section 153.306. Effect of Filing Report - Sec. 153.306. EFFECT OF FILING REPORT. (a) If the secretary...

Section 153.307. Effect of Failure to File Report - Sec. 153.307. EFFECT OF FAILURE TO FILE REPORT. (a) A...

Section 153.308. Notice of Forfeiture of Right to Transact Business - Sec. 153.308. NOTICE OF FORFEITURE OF RIGHT TO TRANSACT BUSINESS....

Section 153.309. Effect of Forfeiture of Right to Transact Business - Sec. 153.309. EFFECT OF FORFEITURE OF RIGHT TO TRANSACT BUSINESS....

Section 153.310. Revival of Right to Transact Business - Sec. 153.310. REVIVAL OF RIGHT TO TRANSACT BUSINESS. (a) A...

Section 153.311. Termination of Certificate or Revocation of Registration After Forfeiture - Sec. 153.311. TERMINATION OF CERTIFICATE OR REVOCATION OF REGISTRATION AFTER...

Section 153.312. Reinstatement of Certificate of Formation or Registration - Sec. 153.312. REINSTATEMENT OF CERTIFICATE OF FORMATION OR REGISTRATION. (a)...

Subchapter H. Limited Partnership as Limited Liability Partnership

Section 153.351. Requirements - Sec. 153.351. REQUIREMENTS. A limited partnership is a limited liability...

Section 153.352. Applicability of Other Requirements - Sec. 153.352. APPLICABILITY OF OTHER REQUIREMENTS. For purposes of applying...

Section 153.353. Law Applicable to Partners - Sec. 153.353. LAW APPLICABLE TO PARTNERS. If a limited partnership...

Subchapter I. Derivative Actions

Section 153.401. Definitions - Sec. 153.401. DEFINITIONS. In this subchapter: (1) "Derivative proceeding" means...

Section 153.402. Standing to Bring Proceeding - Sec. 153.402. STANDING TO BRING PROCEEDING. (a) Subject to Subsection...

Section 153.403. Demand - Sec. 153.403. DEMAND. (a) A limited partner may not institute...

Section 153.404. Determination by Independent Persons - Sec. 153.404. DETERMINATION BY INDEPENDENT PERSONS. (a) A determination of...

Section 153.405. Stay of Proceeding - Sec. 153.405. STAY OF PROCEEDING. (a) If the limited partnership...

Section 153.406. Discovery - Sec. 153.406. DISCOVERY. (a) If a limited partnership proposes to...

Section 153.407. Tolling of Statute of Limitations - Sec. 153.407. TOLLING OF STATUTE OF LIMITATIONS. A written demand...

Section 153.408. Dismissal of Derivative Proceeding - Sec. 153.408. DISMISSAL OF DERIVATIVE PROCEEDING. (a) A court, sitting...

Section 153.409. Allegations After Demand Rejected - Sec. 153.409. ALLEGATIONS AFTER DEMAND REJECTED. If a derivative proceeding...

Section 153.410. Discontinuance or Settlement - Sec. 153.410. DISCONTINUANCE OR SETTLEMENT. (a) A derivative proceeding may...

Section 153.411. Payment of Expenses - Sec. 153.411. PAYMENT OF EXPENSES. (a) In this section, "expenses"...

Section 153.412. Application to Foreign Limited Partnerships - Sec. 153.412. APPLICATION TO FOREIGN LIMITED PARTNERSHIPS. (a) In a...

Section 153.413. Closely Held Limited Partnership - Sec. 153.413. CLOSELY HELD LIMITED PARTNERSHIP. (a) In this section,...

Subchapter K. Supplemental Winding Up and Termination Provisions

Section 153.501. Cancellation or Revocation of Event Requiring Winding Up; Continuation of Business - Sec. 153.501. CANCELLATION OR REVOCATION OF EVENT REQUIRING WINDING UP;...

Section 153.502. Winding Up Procedures - Sec. 153.502. WINDING UP PROCEDURES. (a) Except as provided by...

Section 153.503. Powers of Person Conducting Wind Up - Sec. 153.503. POWERS OF PERSON CONDUCTING WIND UP. (a) After...

Section 153.504. Disposition of Assets - Sec. 153.504. DISPOSITION OF ASSETS. On the winding up of...

Section 153.505. Approval of Reinstatement - Sec. 153.505. APPROVAL OF REINSTATEMENT. To approve a reinstatement of...

Subchapter L. Miscellaneous Provisions

Section 153.551. Records - Sec. 153.551. RECORDS. (a) A domestic limited partnership shall maintain...

Section 153.552. Examination of Records and Information - Sec. 153.552. EXAMINATION OF RECORDS AND INFORMATION. (a) On written...

Section 153.5521. Penalty for Refusal to Permit Examination of Certain Records - Sec. 153.5521. PENALTY FOR REFUSAL TO PERMIT EXAMINATION OF CERTAIN...

Section 153.553. Execution of Filings - Sec. 153.553. EXECUTION OF FILINGS. (a) Except as provided by...

Section 153.554. Execution, Amendment, or Cancellation by Judicial Order - Sec. 153.554. EXECUTION, AMENDMENT, OR CANCELLATION BY JUDICIAL ORDER. (a)...

Section 153.555. Permitted Transfer in Connection With Racetrack License - Sec. 153.555. PERMITTED TRANSFER IN CONNECTION WITH RACETRACK LICENSE. The...

Chapter 154 - Provisions Applicable to Both General and Limited Partnerships

Subchapter A. Partnership Interests

Section 154.001. Nature of Partner's Partnership Interest - Sec. 154.001. NATURE OF PARTNER'S PARTNERSHIP INTEREST. (a) A partner's...

Section 154.002. Transfer of Interest in Partnership Property Prohibited - Sec. 154.002. TRANSFER OF INTEREST IN PARTNERSHIP PROPERTY PROHIBITED. A...

Subchapter B. Partnership Agreement

Section 154.101. Class or Group of Partners - Sec. 154.101. CLASS OR GROUP OF PARTNERS. (a) A partnership...

Section 154.102. Provisions Relating to Voting - Sec. 154.102. PROVISIONS RELATING TO VOTING. A partnership agreement that...

Section 154.104. Rights of Third Persons Under Partnership Agreement - Sec. 154.104. RIGHTS OF THIRD PERSONS UNDER PARTNERSHIP AGREEMENT. A...

Section 154.105. Partnership Bound by Partnership Agreement - Sec. 154.105. PARTNERSHIP BOUND BY PARTNERSHIP AGREEMENT. A partnership agreement...

Subchapter C. Partnership Transactions and Relationships

Section 154.201. Business Transactions Between Partner and Partnership - Sec. 154.201. BUSINESS TRANSACTIONS BETWEEN PARTNER AND PARTNERSHIP. Except as...

Section 154.202. Effect of Partner Change on Relationship Between Partnership and Creditors - Sec. 154.202. EFFECT OF PARTNER CHANGE ON RELATIONSHIP BETWEEN PARTNERSHIP...

Section 154.203. Distributions in Kind - Sec. 154.203. DISTRIBUTIONS IN KIND. (a) Except as provided by...

Section 154.204. Irrevocable Power of Attorney - Sec. 154.204. IRREVOCABLE POWER OF ATTORNEY. (a) This section applies...

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Texas Statutes Business Organizations Code Title 4 - Partnerships

Texas Statutes
Business Organizations Code
Title 4 - Partnerships