N.Y. PTR Law § 100
This is the official text of N.Y. PTR Law § 100, part of New York’s PTR Law — part of the compiled statutory law of New York, published by the state as "PTR Law." Browse the sections below, each linked to its official government source.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
Status of person erroneously believing himself a limited partner
Official statutory text
§ 100. Status of person erroneously believing himself a limited\npartner. A person who has contributed to the capital of a business\nconducted by a person or partnership erroneously believing that he has\nbecome a limited partner in a limited partnership is not, by reason of\nhis exercise of the rights of a limited partner, a general partner with\nthe person or in the partnership carrying on the business, or bound by\nthe obligations of such person or partnership; provided that on\nascertaining the mistake he promptly renounces his interest in the\nprofits of the business, or other compensation by way of income.\n
Status: in_force · Read it on the official government site
Need a lawyer in New York?
Find a New York lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.