(a) The name of a domestic or foreign limited liability partnership must contain:
(1) the phrase “limited liability partnership”; or
(2) an abbreviation of the phrase.
(b) A domestic or foreign limited liability partnership is not subject to § 5.053.

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Terms Used In Texas Business Organizations Code 5.063

  • Domestic: means , with respect to an entity, that the entity is formed under this code or the entity's internal affairs are governed by this code. See Texas Business Organizations Code 1.002
  • Foreign: means , with respect to an entity, that the entity is formed under, and the entity's internal affairs are governed by, the laws of a jurisdiction other than this state. See Texas Business Organizations Code 1.002
  • Limited liability partnership: means a partnership governed as a limited liability partnership under Title 4. See Texas Business Organizations Code 1.002
  • Limited partnership: means a partnership that is governed as a limited partnership under Title 4 and that has one or more general partners and one or more limited partners. See Texas Business Organizations Code 1.002
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Partnership: means an entity governed as a partnership under Title 4. See Texas Business Organizations Code 1.002

(c) A domestic or foreign limited liability partnership that is also a limited partnership must comply with § 5.055 and not this section.