Texas Business Organizations Code - Section 153.003. Applicability Of Other Laws
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§ 153.003. APPLICABILITY OF OTHER LAWS. (a) Except as
provided by Subsection (b), in a case not provided for by this
chapter and the other limited partnership provisions, the
provisions of Chapter 152 governing partnerships that are not
limited partnerships and the rules of law and equity govern.
(b) The powers and duties of a limited partner shall not be
governed by a provision of Chapter 152 that would be inconsistent
with the nature and role of a limited partner as contemplated by
this chapter.
(c) A limited partner shall not have any obligation or duty
of a general partner solely by reason of being a limited partner.
Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, 2006.
Section: 152.910 152.911 152.912 152.913 152.914 153.001 153.002 153.003 153.004 153.005 153.051 153.052 153.053 153.101 153.102
Last modified: August 11, 2007
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