153.252 – RIGHTS OF ASSIGNOR. (a) Except as otherwise
Texas Business Organizations Code § 153.252
Summary
This law clarifies that an assignor partner retains their partnership status and rights until the assignee becomes a partner. It ensures that the assignor can still exercise their rights unless specifically assigned away by the partnership agreement.
Assignor retains partnership status until assignee becomes a partner.
Assignor can exercise rights unless assigned otherwise.
Partnership agreement may alter these default rights.
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In simple terms: Learn about Texas's RIGHTS OF ASSIGNOR. (a) Except as otherwise 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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