Sec. 153.253. RIGHTS OF ASSIGNEE. (a) An assignee of a partnership interest, including the partnership interest of a general partner, may become a limited partner if and to the extent that:
(1) the partnership agreement provides; or
(2) all partners consent.
(b) An assignee who becomes a limited partner, to the extent of the rights and powers assigned, has the rights and powers and is subject to the restrictions and liabilities of a limited partner under a partnership agreement and this code.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Structure Texas Statutes
Chapter 153 - Limited Partnerships
Subchapter F. Partnership Interest
Section 153.251. Assignment of Partnership Interest
Section 153.252. Rights of Assignor
Section 153.253. Rights of Assignee
Section 153.254. Liability of Assignee
Section 153.255. Liability of Assignor
Section 153.256. Partner's Partnership Interest Subject to Charging Order
Section 153.257. Exemption Laws Applicable to Partnership Interest Not Affected