Texas Business Organizations Code - Section 153.152. General Powers And Liabilities Of General Partner
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§ 153.152. GENERAL POWERS AND LIABILITIES OF GENERAL
PARTNER. (a) Except as provided by this chapter, the other limited
partnership provisions, or a partnership agreement, a general
partner of a limited partnership:
(1) has the rights and powers and is subject to the
restrictions of a partner in a partnership without limited
partners; and
(2) has the liabilities of a partner in a partnership
without limited partners to the partnership and to the other
partners.
(b) Except as provided by this chapter or the other limited
partnership provisions, a general partner of a limited partnership
has the liabilities of a partner in a partnership without limited
partners to a person other than the partnership and the other
partners.
Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, 2006.
Section: 153.108 153.109 153.110 153.111 153.112 153.113 153.151 153.152 153.153 153.154 153.155 153.156 153.157 153.158 153.159
Last modified: August 11, 2007
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