Tex.
Bus. Orgs. Code Section 153.151
Admission of General Partners
(a)
After a limited partnership is formed, additional general partners may be admitted:(1)
in the manner provided by a written partnership agreement; or(2)
if a written partnership agreement does not provide for the admission of additional general partners, with the written consent of all partners.(a-1)
On formation of a limited partnership, a person becomes a general partner if the person:(1)
has entered into the partnership agreement as a general partner; and(2)
is named as a general partner in the certificate of formation of the limited partnership.(b)
A person may be a general partner unless the person lacks capacity apart from this chapter.(c)
A written partnership agreement may provide that a person may be admitted as a general partner in a limited partnership, including as a sole general partner, and may acquire a partnership interest in the limited partnership without:(1)
making a contribution to the limited partnership; or(2)
assuming an obligation to make a contribution to the limited partnership.(d)
A written partnership agreement may provide that a person may be admitted as a general partner in a limited partnership, including as the sole general partner, without acquiring a partnership interest in the limited partnership.(e)
This section is not a limitation of or does not otherwise affect Section 153.152 (General Powers and Liabilities of General Partner).
Source:
Section 153.151 — Admission of General Partners, https://statutes.capitol.texas.gov/Docs/BO/htm/BO.153.htm#153.151 (accessed Jun. 5, 2024).
