153.205 – REQUIREMENTS TO ENFORCE CONDITIONAL OBLIGATION.
Texas Business Organizations Code § 153.205
Summary
This law outlines the conditions under which a limited partner's obligation in a limited partnership can be enforced by creditors. It specifies that such obligations can only be enforced if the relevant condition is met or waived by the limited partner.
Enforcement requires satisfaction or waiver of the condition.
Applies to limited partners in limited partnerships.
Includes discretionary contributions callable by the partnership.
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In simple terms: Learn about Texas's REQUIREMENTS TO ENFORCE CONDITIONAL OBLIGATION. 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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