Texas § BO.153.102 - LIABILITY TO THIRD PARTIES
Full text of Texas The Texas Constitution § BO.153.102 — LIABILITY TO THIRD PARTIES, with citation guidance and answers to common questions.
§ BO.153.102. LIABILITY TO THIRD PARTIES
LIABILITY TO THIRD PARTIES. (a) A limited partner is not liable for the obligations of a limited partnership unless: (1) the limited partner is also a general partner; or (2) in addition to the exercise of the limited partner's rights and powers as a limited partner, the limited partner participates in the control of the business. (b) If the limited partner participates in the control of the business, the limited partner is liable only to a person who transacts business with the limited partnership reasonably believing, based on the limited partner's conduct, that the limited partner is a general partner. Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Frequently Asked Questions About Texas § BO.153.102
What does The Texas Constitution § BO.153.102 cover?
Section BO.153.102 ("LIABILITY TO THIRD PARTIES") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § BO.153.102?
A common citation format is "The Texas Constitution § BO.153.102" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § BO.153.102 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.