153.251 – ASSIGNMENT OF PARTNERSHIP INTEREST. (a) Except
Texas Business Organizations Code § 153.251
Summary
This law allows for the assignment of partnership interests in a partnership, unless restricted by the partnership agreement. It clarifies that an assignee does not automatically gain partner rights or require the partnership to dissolve.
Partnership interests can be assigned unless the agreement states otherwise.
Assignees do not gain partner rights automatically.
Assignment does not trigger winding up of the partnership.
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In simple terms: Learn about Texas's ASSIGNMENT OF PARTNERSHIP INTEREST. (a) Except 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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