153.353 – LAW APPLICABLE TO PARTNERS. If a limited
Texas Business Organizations Code § 153.353
Summary
This law clarifies that if a limited partnership operates as a limited liability partnership, specific provisions apply to both general and certain limited partners regarding their liability for debts. It ensures that partners understand their legal responsibilities and protections under this structure.
Applies to limited partnerships as limited liability partnerships.
Defines liability for general and certain limited partners.
References specific provisions for partner obligations.
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In simple terms: Learn about Texas's LAW APPLICABLE TO PARTNERS. If a limited 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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