Tex. Business Organizations Code § 153.151
This is the official text of Tex. Business Organizations Code § 153.151, part of Texas’s Business Organizations Code — governs the formation and operation of corporations, LLCs, and partnerships.
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§ 153.151. ADMISSION OF GENERAL PARTNERS.
Official statutory text
(a) After a limited partnership is formed, additional general partners may be admitted:
(1) in the manner provided by a written partnership agreement; or
(2) if a written partnership agreement does not provide for the admission of additional general partners, with the written consent of all partners.
(a-1) On formation of a limited partnership, a person becomes a general partner if the person:
(1) has entered into the partnership agreement as a general partner; and
(2) is named as a general partner in the certificate of formation of the limited partnership.
(b) A person may be a general partner unless the person lacks capacity apart from this chapter.
(c) A written partnership agreement may provide that a person may be admitted as a general partner in a limited partnership, including as a sole general partner, and may acquire a partnership interest in the limited partnership without:
(1) making a contribution to the limited partnership; or
(2) assuming an obligation to make a contribution to the limited partnership.
(d) A written partnership agreement may provide that a person may be admitted as a general partner in a limited partnership, including as the sole general partner, without acquiring a partnership interest in the limited partnership.
(e) This section is not a limitation of or does not otherwise affect Section 153.152.
(1) in the manner provided by a written partnership agreement; or
(2) if a written partnership agreement does not provide for the admission of additional general partners, with the written consent of all partners.
(a-1) On formation of a limited partnership, a person becomes a general partner if the person:
(1) has entered into the partnership agreement as a general partner; and
(2) is named as a general partner in the certificate of formation of the limited partnership.
(b) A person may be a general partner unless the person lacks capacity apart from this chapter.
(c) A written partnership agreement may provide that a person may be admitted as a general partner in a limited partnership, including as a sole general partner, and may acquire a partnership interest in the limited partnership without:
(1) making a contribution to the limited partnership; or
(2) assuming an obligation to make a contribution to the limited partnership.
(d) A written partnership agreement may provide that a person may be admitted as a general partner in a limited partnership, including as the sole general partner, without acquiring a partnership interest in the limited partnership.
(e) This section is not a limitation of or does not otherwise affect Section 153.152.
Status: in_force · Read it on the official government site
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