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Texas · Through 89th 2nd Called Legislative Session, 2025

Tex. Business Organizations Code § 153.412: APPLICATION TO FOREIGN LIMITED PARTNERSHIPS.

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Where this section sits in the code
  1. BUSINESS ORGANIZATIONS CODE
  2. TITLE 4. PARTNERSHIPS
  3. CHAPTER 153. LIMITED PARTNERSHIPS
  4. SUBCHAPTER I. DERIVATIVE ACTIONS

(a) In a derivative proceeding brought in the right of a foreign limited partnership, the matters covered by this subchapter are governed by the laws of the jurisdiction of formation of the foreign limited partnership, except for Sections 153.405, 153.410, and 153.411, which are procedural provisions and do not relate to the internal affairs of the foreign limited partnership, unless applying the laws of the jurisdiction of formation of the foreign limited partnership requires otherwise with respect to Section 153.405.

(b) In the case of matters relating to a foreign limited partnership under Section 153.405, a reference to a person or group of persons described by Section 153.404 refers to a person or group entitled under the laws of the jurisdiction of formation of the foreign limited partnership to make the determination described by Section 153.404(a). The standard of review of a determination made by the person or group shall be governed by the laws of the jurisdiction of formation of the foreign limited partnership.

Added by Acts 2019, 86th Leg., R.S., Ch. 899 (H.B. 3603), Sec. 30, eff. September 1, 2019.

Collected 2026-08-27T01:46:58Z. Source file · JSON

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