Texas § 154.001 NATURE OF PARTNER'S PARTNERSHIP INTEREST.

Texas Statutes

§ 154.001 — NATURE OF PARTNER'S PARTNERSHIP INTEREST.

Texas § 154.001

Code BOBusiness Organizations Code

This text of Texas § 154.001 (NATURE OF PARTNER'S PARTNERSHIP INTEREST.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Business Organizations Code Code Ann. § 154.001 (2026).

Text

Sec. 154.001. NATURE OF PARTNER'S PARTNERSHIP INTEREST.

(a)A partner's partnership interest is personal property for all purposes.

(b)A partner's partnership interest may be community property under applicable law.

(c)A partner is not a co-owner of partnership property.

(d)Sections 9.406 and 9.408 , Business & Commerce Code, do not apply to a partnership interest in a partnership, including the rights, powers, and interests arising under the governing documents of the partnership or under this code. To the extent of any conflict between this subsection and Section 9.406 or 9.408 , Business & Commerce Code, this subsection controls. It is the express intent of this subsection to permit the enforcement, as a contract among the partners of a partnership, of any provision of a partnership

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Sec. 154.001. NATURE OF PARTNER'S PARTNERSHIP INTEREST. (a) A partner's partnership interest is personal property for all purposes.
(b) A partner's partnership interest may be community property under applicable law.
(c) A partner is not a co-owner of partnership property.
(d) Sections 9.406 and 9.408 , Business & Commerce Code, do not apply to a partnership interest in a partnership, including the rights, powers, and interests arising under the governing documents of the partnership or under this code. To the extent of any conflict between this subsection and Section 9.406 or 9.408 , Business & Commerce Code, this subsection controls. It is the express intent of this subsection to permit the enforcement, as a contract among the partners of a partnership, of any provision of a partnership agreement that would otherwise be ineffective under Section 9.406 or 9.408 , Business & Commerce Code.

Legislative History

Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006. Amended by: Acts 2009, 81st Leg., R.S., Ch. 84 (S.B. 1442 ), Sec. 57, eff. September 1, 2009.