Tex. Business Organizations Code § 153.204
This is the official text of Tex. Business Organizations Code § 153.204, part of Texas’s Business Organizations Code — governs the formation and operation of corporations, LLCs, and partnerships.
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§ 153.204. ENFORCEABILITY OF OBLIGATION.
Official statutory text
(a) Notwithstanding a compromise or release under Section 153.203, a creditor of a limited partnership who extends credit or otherwise acts in reasonable reliance on an obligation described by Section 153.203 may enforce the original obligation if:
(1) the obligation is reflected in a document signed by the partner; and
(2) the document is not amended or canceled to reflect the compromise or release.
(b) Notwithstanding the compromise or release, a general partner remains liable to persons other than the partnership and the other partners, as provided by Sections 153.152(a)(2) and (b).
(1) the obligation is reflected in a document signed by the partner; and
(2) the document is not amended or canceled to reflect the compromise or release.
(b) Notwithstanding the compromise or release, a general partner remains liable to persons other than the partnership and the other partners, as provided by Sections 153.152(a)(2) and (b).
Status: in_force · Read it on the official government site
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