Section 153.555 - Permitted Transfer in Connection With Racetrack License The following transfer relating to a limited partnership is not a prohibited transfer that violates Section 2025.107(a), Occupations Code:
(1) a transfer by a general partnership of its assets to a limited partnership, the corporate general partner of which is controlled by the partners of the general partnership; or(2) a transfer by a limited partnership of the beneficial use of or interest in any of its rights, privileges, or assets to a local development corporation incorporated before January 31, 1993, under Subchapter D, Chapter 431, Transportation Code.Tex. Bus. Org. Code § 153.555
Amended by Acts 2017, Texas Acts of the 85th Leg. - Regular Session, ch. 963,Sec. 2.02, eff. 4/1/2019. Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. 1/1/2006.