Texas Business Organizations Code - Section 153.251. Assignment Of Partnership Interest
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§ 153.251. ASSIGNMENT OF PARTNERSHIP INTEREST. (a)
Except as otherwise provided by the partnership agreement, a
partnership interest is assignable wholly or partly.
(b) Except as otherwise provided by the partnership
agreement, an assignment of a partnership interest:
(1) does not dissolve a limited partnership;
(2) does not entitle the assignee to become, or to
exercise rights or powers of, a partner; and
(3) entitles the assignee to be allocated income,
gain, loss, deduction, credit, or similar items and to receive
distributions to which the assignor was entitled to the extent
those items are assigned.
Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, 2006.
Section: 153.204 153.205 153.206 153.207 153.208 153.209 153.210 153.251 153.252 153.253 153.254 153.255 153.256 153.257 153.301
Last modified: August 11, 2007
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