83rd Texas Legislature, Regular Session, Senate Bill 847, Chapter 9 Page: 2 of 7
7 p.View a full description of this legislative document.
Extracted Text
The following text was automatically extracted from the image on this page using optical character recognition software:
S.B. No. 847
1 the title of this code applicable to the entity.
2 SECTION 2. Subsection (d), Section 7.001, Business
3 Organizations Code, is amended to read as follows:
4 (d) The liability of a governing person may be limited or
5 eliminated [rctrict ~ :]
6 (1) in a general partnership by its partnership
7 agreement to the same extent Subsections (b) and (c) permit the
8 limitation or elimination of liability of a governing person of an
9 organization to which those subsections apply and to the additional
10 extent permitted under Chapter 152;
11 (2) in a limited partnership by its partnership
12 agreement to the same extent Subsections (b) and (c) permit the
13 limitation or elimination of liability of a governing person of an
14 organization to which those subsections apply and to the additional
15 extent permitted under Chapter 153 and, to the extent applicable to
16 limited partnerships, Chapter 152; and
17 (3) in a limited liability company by its certificate
18 of formation or company agreement to the same extent Subsections19 (b) and (c) permit the limitation or elimination of liability of a
20 governing person of an organization to which those subsections
21 apply and to the additional extent permitted under Section 101.401.
22 SECTION 3. Subsection (a), Section 11.052, Business
23 Organizations Code, is amended to read as follows:
24 (a) Except as provided by the title of this code governing
25 the domestic entity, on the occurrence of an event requiring
26 winding up of a domestic entity, unless the event requiring winding
27 up is revoked under Section 11.151 or canceled under Section2
Upcoming Pages
Here’s what’s next.
Search Inside
This document can be searched. Note: Results may vary based on the legibility of text within the document.
Tools / Downloads
Get a copy of this page or view the extracted text.
Citing and Sharing
Basic information for referencing this web page. We also provide extended guidance on usage rights, references, copying or embedding.
Reference the current page of this Legislative Document.
Texas. Legislature. Senate. 83rd Texas Legislature, Regular Session, Senate Bill 847, Chapter 9, legislative document, May 2, 2013; [Austin, Texas]. (https://texashistory.unt.edu/ark:/67531/metapth438834/m1/2/: accessed July 18, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.