Tex. Business Organizations Code § 153.555
PERMITTED TRANSFER IN CONNECTION WITH RACETRACK LICENSE
Texas · Texas Business Organizations Code · Status: effective
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- Citation
- Tex. Business Organizations Code § 153.555, PERMITTED TRANSFER IN CONNECTION WITH RACETRACK LICENSE, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/584186
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Full text
The following transfer relating to a limited partnership is not a prohibited transfer that violates Section 2025.107(a), Occupations Code:
(1) a transfer by a general partnership of its assets to a limited partnership, the corporate general partner of which is controlled by the partners of the general partnership; or
(2) a transfer by a limited partnership of the beneficial use of or interest in any of its rights, privileges, or assets to a local development corporation incorporated before January 31, 1993, under Subchapter D, Chapter 431, Transportation Code.