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Tex. Bus. Orgs. Code § 152.402

GENERAL EFFECT OF TRANSFER

Acts 2003, 78th Leg., ch. 182, Sec. 1, eff

A transfer of all or part of a partner's partnership interest:

(1) is not an event of withdrawal;

(2) does not by itself cause a winding up of the partnership business; and

(3) against the other partners or the partnership, does not entitle the transferee, during the continuance of the partnership, to participate in the management or conduct of the partnership business.

Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.