Rights of Assignee

Sec. 153.253. RIGHTS OF ASSIGNEE. (a) An assignee of a partnership interest, including the partnership interest of a general partner, may become a limited partner if and to the extent that: (1) the partnership agreement provides; or (2) all partners consent. (b) An assignee who becomes a limited partner, to the extent of the rights and powers assigned, has the rights and powers and is subject to the restrictions and liabilities of a limited partner under a partnership agreement and this code. Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.