Tex. Bus. Orgs. Code § 153.152

GENERAL POWERS AND LIABILITIES OF GENERAL PARTNER

Applied in 3 court decisions — leading case 761 F. Supp. 2d 579 - Prospect Energy Corp. v. Dallas Gas Partners, LP (2011)

Most recently applied in Greystar, LLC v. Melissa Adams (March 2014)

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

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Court decisions citing this, by year. The dip in the last several years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the most recent years, so recent citations are undercounted.

(a) Except as provided by this chapter, the other limited partnership provisions, or a partnership agreement, a general partner of a limited partnership:

(1) has the rights and powers and is subject to the restrictions of a partner in a partnership without limited partners; and

(2) has the liabilities of a partner in a partnership without limited partners to the partnership and to the other partners.

(b) Except as provided by this chapter or the other limited partnership provisions, a general partner of a limited partnership has the liabilities of a partner in a partnership without limited partners to a person other than the partnership and the other partners.

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