{"data":{"id":"us-tx/tex.-business-organizations-code-153.251","jurisdiction":"us-tx","citation":"Tex. Business Organizations Code § 153.251","heading":"ASSIGNMENT OF PARTNERSHIP INTEREST.","body":"(a) Except as otherwise provided by the partnership agreement, a partnership interest is assignable wholly or partly.\n(b) Except as otherwise provided by the partnership agreement, an assignment of a partnership interest:\n(1) does not require the winding up of a limited partnership;\n(2) does not entitle the assignee to become, or to exercise rights or powers of, a partner; and\n(3) entitles the assignee to be allocated income, gain, loss, deduction, credit, or similar items and to receive distributions to which the assignor was entitled to the extent those items are assigned.\nActs 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.\nAmended by:\nActs 2007, 80th Leg., R.S., Ch. 688 (H.B. 1737), Sec. 124, eff. September 1, 2007.","path":["BUSINESS ORGANIZATIONS CODE","TITLE 4. PARTNERSHIPS","CHAPTER 153. LIMITED PARTNERSHIPS","SUBCHAPTER F. PARTNERSHIP INTEREST"],"source_url":"https://statutes.capitol.texas.gov/Docs/BO/htm/BO.153.htm#153.251","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:46:58Z","sha256":"4f4ff230c0854b6a3c4d6ef5a29e111da414600de674156da8468ee0bf92b2c7","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-business-organizations-code-153.210","next":"us-tx/tex.-business-organizations-code-153.252"},"notice":"GroundRules: Original legal text. Not legal advice."}