GroundRules
Tex. Business Organizations Code § 154.101: CLASS OR GROUP OF PARTNERS.
Where this section sits in the code
- BUSINESS ORGANIZATIONS CODE
- TITLE 4. PARTNERSHIPS
- CHAPTER 154. PROVISIONS APPLICABLE TO BOTH GENERAL AND LIMITED PARTNERSHIPS
- SUBCHAPTER B. PARTNERSHIP AGREEMENT
(a) A partnership agreement may establish or provide for the future creation of additional classes or groups of one or more partners that have certain express relative rights, powers, and duties, including voting rights. The future creation of additional classes or groups may be expressed in the partnership agreement or at the time of creation of the class or group.
(b) The rights, powers, or duties of a class or group of partners may be senior to those partners of an existing class or group.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Amended by:
Acts 2017, 85th Leg., R.S., Ch. 74 (S.B. 1517), Sec. 16, eff. September 1, 2017.
Collected 2026-08-27T01:46:58Z. Source file · JSON