Texas § 153.254 LIABILITY OF ASSIGNEE.

Texas Statutes

§ 153.254 — LIABILITY OF ASSIGNEE.

Texas § 153.254

Code BOBusiness Organizations Code

This text of Texas § 153.254 (LIABILITY OF ASSIGNEE.) 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. § 153.254 (2026).

Text

Sec. 153.254. LIABILITY OF ASSIGNEE.

(a)Until an assignee of the partnership interest in a limited partnership becomes a partner, the assignee does not have liability as a partner solely as a result of the assignment.

(b)Unless otherwise provided by a written partnership agreement, an assignee who becomes a limited partner:

(1)is liable for the obligations of the assignor to make contributions as provided by Sections 153.202-153.204;

(2)is not obligated for liabilities unknown to the assignee at the time the assignee became a limited partner and that could not be ascertained from a written partnership agreement; and

(3)is not liable for the obligations of the assignor under Sections 153. 105, 153.112 , and 153.162 .

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Sec. 153.254. LIABILITY OF ASSIGNEE. (a) Until an assignee of the partnership interest in a limited partnership becomes a partner, the assignee does not have liability as a partner solely as a result of the assignment.
(b) Unless otherwise provided by a written partnership agreement, an assignee who becomes a limited partner:
(1) is liable for the obligations of the assignor to make contributions as provided by Sections 153.202-153.204;
(2) is not obligated for liabilities unknown to the assignee at the time the assignee became a limited partner and that could not be ascertained from a written partnership agreement; and
(3) is not liable for the obligations of the assignor under Sections 153. 105, 153.112 , and 153.162 .