PERMITTED TRANSFER IN CONNECTION WITH RACETRACK LICENSE.
Tex. BUS. ORGS Code § 153.555.
in effectThe 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.