Tex. Business Organizations Code § 152.402
This is the official text of Tex. Business Organizations Code § 152.402, part of Texas’s Business Organizations Code — governs the formation and operation of corporations, LLCs, and partnerships.
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§ 152.402. GENERAL EFFECT OF TRANSFER.
Official statutory text
A transfer of all or part of a partner's partnership interest:
(1) is not an event of withdrawal;
(2) does not by itself cause a winding up of the partnership business; and
(3) against the other partners or the partnership, does not entitle the transferee, during the continuance of the partnership, to participate in the management or conduct of the partnership business.
(1) is not an event of withdrawal;
(2) does not by itself cause a winding up of the partnership business; and
(3) against the other partners or the partnership, does not entitle the transferee, during the continuance of the partnership, to participate in the management or conduct of the partnership business.
Status: in_force · Read it on the official government site
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