Section 10.056 - Special Provisions Applying to Partnerships To effect an interest exchange:
(1) the partnership agreement of each domestic partnership whose partnership interests are to be acquired pursuant to the plan of exchange must authorize the partnership interest exchange adopted by the partnership;(2) each domestic partnership whose partnership interests are to be acquired under the plan of exchange must approve the plan of exchange in the manner prescribed by its partnership agreement; and(3) each acquiring domestic partnership must take all actions that may be required by its partnership agreement in order to effect the exchange.Tex. Bus. Org. Code § 10.056
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. 1/1/2006.