Texas Business Organizations Code Title 4, Chapter 154 - Provisions Applicable To Both General And Limited Partnerships

SUBCHAPTER A PARTNERSHIP INTERESTS

• Texas Section 154.001 - Nature Of Partner's Partnership Interest
  (a) A partner's partnership interest is personal property for all purposes. (b) A partner's partnership interest may be community property under applicable law. (c) A...

SUBCHAPTER B PARTNERSHIP AGREEMENT

• Texas Section 154.002 - Transfer Of Interest In Partnership Property Prohibited
  A partner does not have an interest that can be transferred, voluntarily or involuntarily, in partnership property. Acts 2003, 78th Leg., ch. 182, Sec. 1,...
• Texas Section 154.101 - Class Or Group Of Partners
  (a) A written partnership agreement may establish or provide for the future creation of additional classes or groups of one or more partners that have...
• Texas Section 154.102 - Provisions Relating To Voting
  A written partnership agreement that grants or provides for granting a right to vote to a partner may contain a provision relating to: (1) giving...
• Texas Section 154.103 - Notice Of Action By Consent Without A Meeting
  (a) Prompt notice of the taking of an action under a partnership agreement that may be taken without a meeting by consent of fewer than...

SUBCHAPTER C PARTNERSHIP TRANSACTIONS AND RELATIONSHIPS

• Texas Section 154.104 - Rights Of Third Persons Under Partnership Agreement
  A partnership agreement may provide rights to any person, including a person who is not a party to the partnership agreement, to the extent provided...
• Texas Section 154.201 - Business Transactions Between Partner And Partnership
  Except as otherwise provided by the partnership agreement, a partner may lend money to and transact other business with the partnership. Subject to other applicable...
• Texas Section 154.202 - Effect Of Partner Change On Relationship Between Partnership And Creditors
  The relationships between a partnership and its creditors are not affected by the: (1) withdrawal of a partner; or (2) addition of a new partner....
• Texas Section 154.203 - Distributions In Kind
  (a) Except as provided by the partnership agreement, a partner, regardless of the nature of the partner's contribution, is not entitled to demand or receive...
• Texas Section 154.204 - Irrevocable Power Of Attorney
  (a) This section applies only to: (1) a power of attorney with respect to matters relating to the organization, internal affairs, or termination of a...

Last modified: September 28, 2016