Sec. 153.113. POWERS OF ESTATE OF LIMITED PARTNER WHO IS DECEASED OR INCAPACITATED. If a limited partner who is an individual dies or a court adjudges the limited partner to be incapacitated in managing the limited partner's person or property, the limited partner's executor, administrator, guardian, conservator, or other legal representative may exercise all of the limited partner's rights and powers to settle the limited partner's estate or administer the limited partner's property, including the power of an assignee to become a limited partner under the partnership agreement.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Structure Texas Statutes
Chapter 153 - Limited Partnerships
Subchapter C. Limited Partners
Section 153.101. Admission of Limited Partners
Section 153.102. Liability to Third Parties
Section 153.103. Actions Not Constituting Participation in Business for Liability Purposes
Section 153.104. Enumeration of Actions Not Exclusive
Section 153.105. Creation of Rights
Section 153.106. Erroneous Belief of Contributor Being Limited Partner
Section 153.107. Statement Required for Liability Protection
Section 153.108. Requirements for Liability Protection Following Expiration of Statement
Section 153.109. Liability of Erroneous Contributor
Section 153.110. Withdrawal of Limited Partner
Section 153.111. Distribution on Withdrawal
Section 153.112. Receipt of Wrongful Distribution
Section 153.113. Powers of Estate of Limited Partner Who Is Deceased or Incapacitated