153.104 – ENUMERATION OF ACTIONS NOT EXCLUSIVE. The
Texas Business Organizations Code § 153.104
Summary
This law clarifies that limited partners in a limited partnership can engage in other roles without being deemed to control the business. It protects limited partners from liability associated with management actions they did not participate in.
Limited partners can act in other capacities without losing limited status.
Engaging in additional roles does not imply business control.
Protects limited partners from liability for management actions.
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In simple terms: Learn about Texas's ENUMERATION OF ACTIONS NOT EXCLUSIVE. The law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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