153.105 – CREATION OF RIGHTS. Sections 153.103 and 153.104
Texas Business Organizations Code § 153.105
Summary
This section clarifies that limited partners do not automatically have rights under Sections 153.103 and 153.104. Instead, their rights must be explicitly established through specific documents or provisions outlined in the Texas Business Organizations Code.
Limited partners' rights must be explicitly created.
Rights can be established in the certificate of formation.
Partnership agreements and other provisions also define rights.
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In simple terms: Learn about Texas's CREATION OF RIGHTS. Sections 153.103 and 153.104 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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