{"data":{"id":"us-tx/tex.-business-organizations-code-153.101","jurisdiction":"us-tx","citation":"Tex. Business Organizations Code § 153.101","heading":"ADMISSION OF LIMITED PARTNERS.","body":"(a) In connection with the formation of a limited partnership, a person acquiring a limited partnership interest becomes a limited partner on the later of:\n(1) the date on which the limited partnership is formed; or\n(2) the date stated in the records of the limited partnership as the date on which the person becomes a limited partner or, if that date is not stated in those records, the date on which the person's admission is first reflected in the records of the limited partnership.\n(b) After a limited partnership is formed, a person who acquires a partnership interest directly from the limited partnership becomes a new limited partner on:\n(1) compliance with the provisions of the partnership agreement governing admission of new limited partners; or\n(2) if the partnership agreement does not contain relevant admission provisions, the written consent of all partners.\n(c) After formation of a limited partnership, an assignee of a partnership interest becomes a new limited partner as provided by Section 153.253(a).\n(d) A person may be a limited partner unless the person lacks capacity apart from this chapter and the other limited partnership provisions.\nActs 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.","path":["BUSINESS ORGANIZATIONS CODE","TITLE 4. PARTNERSHIPS","CHAPTER 153. LIMITED PARTNERSHIPS","SUBCHAPTER C. LIMITED PARTNERS"],"source_url":"https://statutes.capitol.texas.gov/Docs/BO/htm/BO.153.htm#153.101","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:46:58Z","sha256":"912d36a7513d88675060b79944555f3d3e693d53b837b906269c4cc692f3e030","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-business-organizations-code-153.053","next":"us-tx/tex.-business-organizations-code-153.102"},"notice":"GroundRules: Original legal text. Not legal advice."}