{"data":{"id":"us-tx/tex.-business-organizations-code-153.555","jurisdiction":"us-tx","citation":"Tex. Business Organizations Code § 153.555","heading":"PERMITTED TRANSFER IN CONNECTION WITH RACETRACK LICENSE.","body":"The following transfer relating to a limited partnership is not a prohibited transfer that violates Section 2025.107(a), Occupations Code:\n(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\n(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.\nActs 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.\nAmended by:\nActs 2017, 85th Leg., R.S., Ch. 963 (S.B. 1969), Sec. 2.02, eff. April 1, 2019.","path":["BUSINESS ORGANIZATIONS CODE","TITLE 4. PARTNERSHIPS","CHAPTER 153. LIMITED PARTNERSHIPS","SUBCHAPTER L. MISCELLANEOUS PROVISIONS"],"source_url":"https://statutes.capitol.texas.gov/Docs/BO/htm/BO.153.htm#153.555","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:46:58Z","sha256":"b2f158487eb1eeaff7c9522a6e8f59f2c6f22c76d802b34681ba1450afb2651d","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-business-organizations-code-153.554","next":"us-tx/tex.-business-organizations-code-154.001"},"notice":"GroundRules: Original legal text. Not legal advice."}