Tex. Business Organizations Code § 153.205
This is the official text of Tex. Business Organizations Code § 153.205, part of Texas’s Business Organizations Code — governs the formation and operation of corporations, LLCs, and partnerships.
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§ 153.205. REQUIREMENTS TO ENFORCE CONDITIONAL OBLIGATION.
Official statutory text
(a) An obligation of a limited partner of a limited partnership that is subject to a condition may be enforced by the partnership creditor described by Section 153.204 only if the condition is satisfied or waived by or with respect to the limited partner.
(b) A conditional obligation of a limited partner of a limited partnership includes a contribution payable on a discretionary call of the limited partnership before the time the call occurs.
(b) A conditional obligation of a limited partner of a limited partnership includes a contribution payable on a discretionary call of the limited partnership before the time the call occurs.
Status: in_force · Read it on the official government site
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