Business Associations - Uniform Limited Partnership Act - Corporation as a Limited Partner
Singer, Richard
Citation analytics
How this journal article sits in the citation network, derived from CiteLaw's graph of published opinions.
Courts citing this journal article
Most recently cited by1
- 1963Cleveland Trust Co. v. Ingalls Oh. Prob. Ct., Cuyahoga
Counts reflect decisions in the CiteLaw corpus and may lag very recent opinions.
Abstract
The Port Arthur Trust Co., a Texas corporation, sought to enter into a limited partnership agreement as a limited partner. Its capital contribution was to be three trusts established by the prospective general partner wherein the trust company had been named trustee. The secretary of state refused to file the instrument creating the limited partnership on the grounds "that it was necessary for a corporation to have express charter powers" before it can, enter into a limited partnership, and that "a corporation is not a 'person' " within the meaning of the Texas Uniform Limited Partnership Act. The corporation then applied to the Texas Supreme Court for a writ of mandamus to compel the secretary of state to file the certificate of limited partnership.
Held, a writ of mandamus will be granted. A corporation qualified to act as a trustee is authorized to become a limited partner under the Texas Uniform Limited Partnership Act. Port Arthur Trust Co. v. A.M. Muldrow, (Texas 1956) 291 S.W. (2d) 312.