Tex. Bus. Orgs. Code § 154.001 · Subchapter A. PARTNERSHIP INTERESTS
NATURE OF PARTNER'S PARTNERSHIP INTEREST.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A partner's partnership interest is personal property for all purposes.
(b) A partner's partnership interest may be community property under applicable law.
(c) A partner is not a co-owner of partnership property.
(d) Sections 9.406 and 9.408, Business & Commerce Code, do not apply to a partnership interest in a partnership, including the rights, powers, and interests arising under the governing documents of the partnership or under this code. To the extent of any conflict between this subsection and Section 9.406 or 9.408, Business & Commerce Code, this subsection controls. It is the express intent of this subsection to permit the enforcement, as a contract among the partners of a partnership, of any provision of a partnership agreement that would otherwise be ineffective under Section 9.406 or 9.408, Business & Commerce Code.
Notes and commentary — not statutory text
History
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Amended by:
Acts 2009, 81st Leg., R.S., Ch. 84 (S.B. 1442), Sec. 57, eff. September 1, 2009.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/BO/htm/BO.154.htm
- Text hash
- sha256 cfbb2374587fce252991edda9e622a82ac21898d38e8d0af00bcaf6faa3ce384
- 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 & Commerce Code
- Tex. Bus. & Com. Code § 9.406DISCHARGE OF ACCOUNT DEBTOR; NOTIFICATION OF ASSIGNMENT; IDENTIFICATION AND PROOF OF ASSIGNMENT; RESTRICTIONS ON ASSIGNMENT OF ACCOUNTS, CHATTEL PAPER, PAYMENT INTANGIBLES, AND PROMISSORY NOTES INEFFECTIVE.Printed as Section 9.406 or 9.408, Business & Commerce Code | Sections 9.406 and 9.408, Business & Commerce Code
- Tex. Bus. & Com. Code § 9.408RESTRICTIONS ON ASSIGNMENT OF PROMISSORY NOTES, HEALTH-CARE-INSURANCE RECEIVABLES, AND CERTAIN GENERAL INTANGIBLES INEFFECTIVE.Printed as Section 9.406 or 9.408, Business & Commerce Code | Sections 9.406 and 9.408, Business & Commerce 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.