Sec. 153.555. PERMITTED TRANSFER IN CONNECTION WITH RACETRACK LICENSE. The following transfer relating to a limited partnership is not a prohibited transfer that violates Section 2025.107(a), Occupations Code:
(1) a transfer by a general partnership of its assets to a limited partnership, the corporate general partner of which is controlled by the partners of the general partnership; or
(2) a transfer by a limited partnership of the beneficial use of or interest in any of its rights, privileges, or assets to a local development corporation incorporated before January 31, 1993, under Subchapter D, Chapter 431, Transportation Code.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Amended by:
Acts 2017, 85th Leg., R.S., Ch. 963 (S.B. 1969), Sec. 2.02, eff. April 1, 2019.
Structure Texas Statutes
Chapter 153 - Limited Partnerships
Subchapter L. Miscellaneous Provisions
Section 153.552. Examination of Records and Information
Section 153.5521. Penalty for Refusal to Permit Examination of Certain Records
Section 153.553. Execution of Filings
Section 153.554. Execution, Amendment, or Cancellation by Judicial Order
Section 153.555. Permitted Transfer in Connection With Racetrack License