Texas § 153.555 PERMITTED TRANSFER IN CONNECTION WITH RACETRACK LICENSE.

Texas Statutes

§ 153.555 — PERMITTED TRANSFER IN CONNECTION WITH RACETRACK LICENSE.

Texas § 153.555

Code BOBusiness Organizations Code

This text of Texas § 153.555 (PERMITTED TRANSFER IN CONNECTION WITH RACETRACK LICENSE.) 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. § 153.555 (2026).

Text

Sec. 153.555. PERMITTED TRANSFER IN CONNECTION WITH RACETRACK LICENSE. The following transfer relating to a limited partnership is not a prohibited transfer that violates Section 2025.107 (a), Occupations Code:

(1)a transfer by a general partnership of its assets to a limited partnership, the corporate general partner of which is controlled by the partners of the general partnership; or

(2)a transfer by a limited partnership of the beneficial use of or interest in any of its rights, privileges, or assets to a local development corporation incorporated before January 31, 1993, under Subchapter D , Chapter 431 , Transportation Code.

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Sec. 153.555. PERMITTED TRANSFER IN CONNECTION WITH RACETRACK LICENSE. The following transfer relating to a limited partnership is not a prohibited transfer that violates Section 2025.107 (a), Occupations Code:
(1) a transfer by a general partnership of its assets to a limited partnership, the corporate general partner of which is controlled by the partners of the general partnership; or
(2) a transfer by a limited partnership of the beneficial use of or interest in any of its rights, privileges, or assets to a local development corporation incorporated before January 31, 1993, under Subchapter D , Chapter 431 , Transportation Code.

Legislative History

Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006. Amended by: Acts 2017, 85th Leg., R.S., Ch. 963 (S.B. 1969 ), Sec. 2.02, eff. April 1, 2019.