Sec. 10.107. SPECIAL PROVISIONS APPLYING TO PARTNERSHIP CONVERSIONS. (a) If a partnership is formed under a plan of conversion under this code, the existence of the partnership as a partnership begins when the conversion takes effect, and the owners or members designated to become the partners under the plan of conversion become the partners at that time.
(b) The partnership agreement of a domestic partnership that is converting must contain provisions that authorize the conversion provided for in the plan of conversion adopted by the partnership.
(c) A domestic partnership that is converting must approve the plan of conversion in the manner provided in its partnership agreement.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Amended by:
Acts 2005, 79th Leg., Ch. 64 (H.B. 1319), Sec. 36, eff. January 1, 2006.
Structure Texas Statutes
Chapter 10 - Mergers, Interest Exchanges, Conversions, and Sales of Assets
Section 10.101. Conversion of Domestic Entities
Section 10.102. Conversion of Non-Code Organizations
Section 10.1025. Conversion and Continuance
Section 10.103. Plan of Conversion: Required Provisions
Section 10.104. Plan of Conversion: Permissive Provisions
Section 10.105. Effectiveness of Conversion
Section 10.106. General Effect of Conversion
Section 10.107. Special Provisions Applying to Partnership Conversions
Section 10.109. Special Provisions Applying to Conversion and Continuance