Section 153.101 - Admission of Limited Partners(a) In connection with the formation of a limited partnership, a person acquiring a limited partnership interest becomes a limited partner on the later of: (1) the date on which the limited partnership is formed; or(2) the date stated in the records of the limited partnership as the date on which the person becomes a limited partner or, if that date is not stated in those records, the date on which the person's admission is first reflected in the records of the limited partnership.(b) After a limited partnership is formed, a person who acquires a partnership interest directly from the limited partnership becomes a new limited partner on:(1) compliance with the provisions of the partnership agreement governing admission of new limited partners; or(2) if the partnership agreement does not contain relevant admission provisions, the written consent of all partners.(c) After formation of a limited partnership, an assignee of a partnership interest becomes a new limited partner as provided by Section 153.253(a).(d) A person may be a limited partner unless the person lacks capacity apart from this chapter and the other limited partnership provisions.Tex. Bus. Org. Code § 153.101
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. 1/1/2006.