Sec. 153.201. FORM OF CONTRIBUTION. The contribution of a partner may consist of a tangible or intangible benefit to the limited partnership or other property of any kind or nature, including:
(1) cash;
(2) a promissory note;
(3) services performed;
(4) a contract for services to be performed; and
(5) another interest in or security of the limited partnership, another domestic or foreign limited partnership, or other entity.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Amended by:
Acts 2005, 79th Leg., Ch. 64 (H.B. 1319), Sec. 89, eff. January 1, 2006.
Structure Texas Statutes
Chapter 153 - Limited Partnerships
Section 153.201. Form of Contribution
Section 153.202. Enforceability of Promise to Make Contribution
Section 153.203. Release of Obligation to Partnership
Section 153.204. Enforceability of Obligation
Section 153.205. Requirements to Enforce Conditional Obligation
Section 153.206. Allocation of Profits and Losses
Section 153.207. Right to Distribution
Section 153.208. Sharing of Distributions