Texas § 10.056 SPECIAL PROVISIONS APPLYING TO PARTNERSHIPS.

Texas Statutes

§ 10.056 — SPECIAL PROVISIONS APPLYING TO PARTNERSHIPS.

Texas § 10.056

Code BOBusiness Organizations Code

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Tex. Business Organizations Code Code Ann. § 10.056 (2026).

Text

Sec. 10.056. SPECIAL PROVISIONS APPLYING TO PARTNERSHIPS. To effect an interest exchange:

(1)the partnership agreement of each domestic partnership whose partnership interests are to be acquired pursuant to the plan of exchange must authorize the partnership interest exchange adopted by the partnership;

(2)each domestic partnership whose partnership interests are to be acquired under the plan of exchange must approve the plan of exchange in the manner prescribed by its partnership agreement; and

(3)each acquiring domestic partnership must take all actions that may be required by its partnership agreement in order to effect the exchange. SUBCHAPTER C. CONVERSIONS

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Sec. 10.056. SPECIAL PROVISIONS APPLYING TO PARTNERSHIPS. To effect an interest exchange:
(1) the partnership agreement of each domestic partnership whose partnership interests are to be acquired pursuant to the plan of exchange must authorize the partnership interest exchange adopted by the partnership;
(2) each domestic partnership whose partnership interests are to be acquired under the plan of exchange must approve the plan of exchange in the manner prescribed by its partnership agreement; and
(3) each acquiring domestic partnership must take all actions that may be required by its partnership agreement in order to effect the exchange.
SUBCHAPTER C. CONVERSIONS