Texas § 153.152 GENERAL POWERS AND LIABILITIES OF GENERAL PARTNER.

Texas Statutes

§ 153.152 — GENERAL POWERS AND LIABILITIES OF GENERAL PARTNER.

Texas § 153.152

Code BOBusiness Organizations Code

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Bluebook

Tex. Business Organizations Code Code Ann. § 153.152 (2026).

Text

Sec. 153.152. GENERAL POWERS AND LIABILITIES OF GENERAL PARTNER.

(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.

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Sec. 153.152. GENERAL POWERS AND LIABILITIES OF GENERAL PARTNER. (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.