Texas Business Organizations Code
§ 153.004 — NONWAIVABLE TITLE 1 PROVISIONS
BO § 153.004Title 4. PARTNERSHIPS · Ch. 153. LIMITED PARTNERSHIPS · Art. A. GENERAL PROVISIONS
Statute text
View on source(a)Except as provided by this section, the following provisions of Title 1 may not be waived or modified in the partnership agreement of a limited partnership:
(1)Chapter 1, if the provision is used to interpret a provision or define a word or phrase contained in a section listed in this subsection;
(2)Chapter 2, other than Section 2.104(c)(2), 2.104(c)(3), or 2.113;
(3)Chapter 3, other than Subchapters C and E of that chapter and Section 3.151 (provided, that in all events a partnership agreement may not validly waive or modify Section 153.551 or unreasonably restrict a partner's or assignee's rights under Section 153.552); or
(4)Chapter 4, 5, 10, 11, or 12, other than Section 11.058.
(b)A provision listed in Subsection (a) may be waived or modified in the partnership agreement if the provision that is waived or modified authorizes the limited partnership to waive or modify the provision in the limited partnership's governing documents.
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Legislative history
Acts 2011, 82nd Leg., R.S., Ch. 139 (S.B. 748), Sec. 51, eff. September 1, 2011. Acts 2023, 88th Leg., R.S., Ch. 27 (S.B. 1514), Sec. 55, eff. September 1, 2023.