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Texas Business Organizations Code

§ 153.555 — PERMITTED TRANSFER IN CONNECTION WITH RACETRACK LICENSE

BO § 153.555Title 4. PARTNERSHIPS · Ch. 153. LIMITED PARTNERSHIPS · Art. L. MISCELLANEOUS PROVISIONS

Statute text

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The following transfer relating to a limited partnership is not a prohibited transfer that violates Section 2025.107(a), Occupations Code:
(1)a transfer by a general partnership of its assets to a limited partnership, the corporate general partner of which is controlled by the partners of the general partnership; or
(2)a transfer by a limited partnership of the beneficial use of or interest in any of its rights, privileges, or assets to a local development corporation incorporated before January 31, 1993, under Subchapter D, Chapter 431, Transportation Code. Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006. Amended by:

Legislative history

Acts 2017, 85th Leg., R.S., Ch. 963 (S.B. 1969), Sec. 2.02, eff. April 1, 2019.

Source: Texas Business Organizations Code § 153.555 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.