Texas Business Organizations Code

§ 153.103 — ACTIONS NOT CONSTITUTING PARTICIPATION IN BUSINESS FOR LIABILITY PURPOSES

BO § 153.103Title 4. PARTNERSHIPS · Ch. 153. LIMITED PARTNERSHIPS · Art. C. LIMITED PARTNERS

Statute text

For purposes of this section and Sections 153.102, 153.104, and 153.105, a limited partner does not participate in the control of the business because the limited partner has or has acted in one or more of the following capacities or possesses or exercises one or more of the following powers:

(1)acting as:

(A)a contractor for or an officer or other agent or employee of the limited partnership;

(B)a contractor for or an agent or employee of a general partner;

(C)an officer, director, or stockholder of a corporate general partner;

(D)a partner of a partnership that is a general partner of the limited partnership; or

…

Legislative history

Acts 2007, 80th Leg., R.S., Ch. 688 (H.B. 1737), Sec. 121, eff. September 1, 2007. Acts 2009, 81st Leg., R.S., Ch. 84 (S.B. 1442), Sec. 51, eff. September 1, 2009. Acts 2011, 82nd Leg., R.S., Ch. 139 (S.B. 748), Sec. 52, eff. September 1, 2011.