153.253 – RIGHTS OF ASSIGNEE. (a) An assignee of a
Texas Business Organizations Code § 153.253
Summary
This law outlines the conditions under which an assignee of a partnership interest can become a limited partner. It requires either provisions in the partnership agreement or consent from all partners for the assignee to gain limited partner status.
Assignees can become limited partners under certain conditions.
Requires partnership agreement provisions or unanimous partner consent.
Limited partners have specific rights and liabilities as defined in the agreement.
Frequently Asked Questions
Why Attorneys Choose FlawFinder
Side-by-side with Westlaw and LexisNexis
Feature
FlawFinder
Westlaw
LexisNexis
Monthly price
$19 - $99
$133 - $646
$153 - $399
Contract
None
1-3 year min
1-6 year min
Hidden fees
$0, always
Up to $469/search
$25/mo + per-doc
Police SOPs
✓ 310+ departments
✗
✗
Zero-hallucination AI
✓ CitationGuard
✗
✗
Cancel
One click
Termination fees
No option to cancel
Explain Like I'm 5
In simple terms: Learn about Texas's RIGHTS OF ASSIGNEE. (a) An assignee of a law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
FlawFinder provides legal information, not legal advice. Consult a licensed attorney for specific legal guidance.