Tex. Business Organizations Code § 154.101
This is the official text of Tex. Business Organizations Code § 154.101, part of Texas’s Business Organizations Code — governs the formation and operation of corporations, LLCs, and partnerships.
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§ 154.101. CLASS OR GROUP OF PARTNERS.
Official statutory text
(a) A partnership agreement may establish or provide for the future creation of additional classes or groups of one or more partners that have certain express relative rights, powers, and duties, including voting rights. The future creation of additional classes or groups may be expressed in the partnership agreement or at the time of creation of the class or group.
(b) The rights, powers, or duties of a class or group of partners may be senior to those partners of an existing class or group.
(b) The rights, powers, or duties of a class or group of partners may be senior to those partners of an existing class or group.
Status: in_force · Read it on the official government site
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