Tex. Business Organizations Code § 10.056
This is the official text of Tex. Business Organizations Code § 10.056, part of Texas’s Business Organizations Code — governs the formation and operation of corporations, LLCs, and partnerships.
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§ 10.056. SPECIAL PROVISIONS APPLYING TO PARTNERSHIPS.
Official statutory text
To effect an interest exchange:
(1) the partnership agreement of each domestic partnership whose partnership interests are to be acquired pursuant to the plan of exchange must authorize the partnership interest exchange adopted by the partnership;
(2) each domestic partnership whose partnership interests are to be acquired under the plan of exchange must approve the plan of exchange in the manner prescribed by its partnership agreement; and
(3) each acquiring domestic partnership must take all actions that may be required by its partnership agreement in order to effect the exchange.
(1) the partnership agreement of each domestic partnership whose partnership interests are to be acquired pursuant to the plan of exchange must authorize the partnership interest exchange adopted by the partnership;
(2) each domestic partnership whose partnership interests are to be acquired under the plan of exchange must approve the plan of exchange in the manner prescribed by its partnership agreement; and
(3) each acquiring domestic partnership must take all actions that may be required by its partnership agreement in order to effect the exchange.
Status: in_force · Read it on the official government site
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