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Texas Business Organizations Code

§ 153.113 — POWERS OF ESTATE OF LIMITED PARTNER WHO IS DECEASED OR INCAPACITATED

BO § 153.113Title 4. PARTNERSHIPS · Ch. 153. LIMITED PARTNERSHIPS · Art. C. LIMITED PARTNERS

Statute text

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If a limited partner who is an individual dies or a court adjudges the limited partner to be incapacitated in managing the limited partner's person or property, the limited partner's executor, administrator, guardian, conservator, or other legal representative may exercise all of the limited partner's rights and powers to settle the limited partner's estate or administer the limited partner's property, including the power of an assignee to become a limited partner under the partnership agreement.

Legislative history

Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.

Source: Texas Business Organizations Code § 153.113 from the Texas Constitution and Statutes (Texas Legislature) (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.