Tex. Bus. Orgs. Code § 153.412 · Subchapter I. DERIVATIVE ACTIONS
APPLICATION TO FOREIGN LIMITED PARTNERSHIPS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) In a derivative proceeding brought in the right of a foreign limited partnership, the matters covered by this subchapter are governed by the laws of the jurisdiction of formation of the foreign limited partnership, except for Sections 153.405, 153.410, and 153.411, which are procedural provisions and do not relate to the internal affairs of the foreign limited partnership, unless applying the laws of the jurisdiction of formation of the foreign limited partnership requires otherwise with respect to Section 153.405.
(b) In the case of matters relating to a foreign limited partnership under Section 153.405, a reference to a person or group of persons described by Section 153.404 refers to a person or group entitled under the laws of the jurisdiction of formation of the foreign limited partnership to make the determination described by Section 153.404(a). The standard of review of a determination made by the person or group shall be governed by the laws of the jurisdiction of formation of the foreign limited partnership.
Notes and commentary — not statutory text
History
Added by Acts 2019, 86th Leg., R.S., Ch. 899 (H.B. 3603), Sec. 30, eff. September 1, 2019.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/BO/htm/BO.153.htm
- Text hash
- sha256 96a2c422988eaf868608986cdaf3d2c613c98fc8786f261b239c31f5ce91a584
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
Business Organizations Code
- Tex. Bus. Orgs. Code § 153.404DETERMINATION BY INDEPENDENT PERSONS.Printed as Section 153.404 | Section 153.404(a)
- Tex. Bus. Orgs. Code § 153.405STAY OF PROCEEDING.Printed as Section 153.405 | Sections 153.405, 153.410, and 153.411
- Tex. Bus. Orgs. Code § 153.410DISCONTINUANCE OR SETTLEMENT.Printed as Sections 153.405, 153.410, and 153.411
- Tex. Bus. Orgs. Code § 153.411PAYMENT OF EXPENSES.Printed as Sections 153.405, 153.410, and 153.411
Cited by 1 provision
Provisions in this library whose text cites Tex. Bus. Orgs. Code § 153.412. Each shows the citation as that text prints it.
Business Organizations Code
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.