Texas Business Organizations Code

§ 153.155 — WITHDRAWAL OF GENERAL PARTNER

BO § 153.155Title 4. PARTNERSHIPS · Ch. 153. LIMITED PARTNERSHIPS · Art. D. GENERAL PARTNERS

(a)A person ceases to be a general partner of a limited partnership on the occurrence of one or more of the following events of withdrawal:

(1)the general partner withdraws as a general partner from the limited partnership as provided by Subsection (b);

(2)the general partner ceases to be a general partner of the limited partnership as provided by Section 153.252(b);

(3)the general partner is removed as a general partner in accordance with the partnership agreement;

(4)unless otherwise provided by a written partnership agreement, or with the written consent of all partners, the general partner:

(A)makes a general assignment for the benefit of creditors;

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Legislative history

Acts 2007, 80th Leg., R.S., Ch. 688 (H.B. 1737), Sec. 122, eff. September 1, 2007.