Tex. Business Organizations Code § 153.252
RIGHTS OF ASSIGNOR
Texas · Texas Business Organizations Code · Status: effective
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- Tex. Business Organizations Code § 153.252, RIGHTS OF ASSIGNOR, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/584136
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(a) Except as otherwise provided by the partnership agreement, until the assignee becomes a partner, the assignor partner continues to be a partner in the limited partnership. The assignor partner may exercise any rights or powers of a partner, except to the extent those rights or powers are assigned.
(b) Except as otherwise provided by the partnership agreement, on the assignment by a general partner of all of the general partner's rights as a general partner, the general partner's status as a general partner may be terminated by the affirmative vote of a majority-in-interest of the limited partners.