Sec. 152.402. GENERAL EFFECT OF TRANSFER. A transfer of all or part of a partner's partnership interest:
(1) is not an event of withdrawal;
(2) does not by itself cause a winding up of the partnership business; and
(3) against the other partners or the partnership, does not entitle the transferee, during the continuance of the partnership, to participate in the management or conduct of the partnership business.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Structure Texas Statutes
Chapter 152 - General Partnerships
Subchapter F. Transfer of Partnership Interests
Section 152.401. Transfer of Partnership Interest
Section 152.402. General Effect of Transfer
Section 152.403. Effect of Transfer on Transferor
Section 152.404. Rights and Duties of Transferee
Section 152.405. Power to Effect Transfer or Grant of Security Interest
Section 152.406. Effect of Death or Divorce on Partnership Interest