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Tex. Bus. Orgs. Code § 153.205

REQUIREMENTS TO ENFORCE CONDITIONAL OBLIGATION

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

(a) An obligation of a limited partner of a limited partnership that is subject to a condition may be enforced by the partnership creditor described by Section 153.204 only if the condition is satisfied or waived by or with respect to the limited partner.

(b) A conditional obligation of a limited partner of a limited partnership includes a contribution payable on a discretionary call of the limited partnership before the time the call occurs.

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