Tex. Business Organizations Code § 153.160
This is the official text of Tex. Business Organizations Code § 153.160, part of Texas’s Business Organizations Code — governs the formation and operation of corporations, LLCs, and partnerships.
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§ 153.160. EFFECT OF CONVERSION OF PARTNERSHIP INTEREST.
Official statutory text
(a) After an amendment to the certificate of formation reflecting the general partner's withdrawal as a general partner is filed under Section 153.051, the withdrawing general partner:
(1) may vote as a limited partner in all matters, to the same extent as the members of the class of limited partners having the least voting rights with respect to the matter on which the vote is taken; and
(2) may not vote on the admission and compensation of a general partner who replaces the withdrawing general partner.
(b) If the general partner's withdrawal violates the partnership agreement, the general partner does not have voting rights.
(1) may vote as a limited partner in all matters, to the same extent as the members of the class of limited partners having the least voting rights with respect to the matter on which the vote is taken; and
(2) may not vote on the admission and compensation of a general partner who replaces the withdrawing general partner.
(b) If the general partner's withdrawal violates the partnership agreement, the general partner does not have voting rights.
Status: in_force · Read it on the official government site
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