153.152 – GENERAL POWERS AND LIABILITIES OF GENERAL
Texas Business Organizations Code § 153.152
Summary
This section outlines the rights, powers, and liabilities of general partners in a limited partnership. It establishes that general partners have similar responsibilities and privileges as partners in a general partnership, unless otherwise specified in the partnership agreement or other provisions.
General partners have rights similar to those in a general partnership.
They are liable to the partnership and other partners.
Partnership agreements can modify these rights and liabilities.
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In simple terms: Learn about Texas's GENERAL POWERS AND LIABILITIES OF GENERAL 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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