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N.Y. PTR Law § 119

This is the official text of N.Y. PTR Law § 119, 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.

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Existing limited partnerships

Official statutory text

§ 119. Existing limited partnerships. (1) A limited partnership\nformed under any statute of this state prior to the adoption of this\narticle may become a limited partnership under this article by complying\nwith the provisions of section ninety-one, provided the certificate sets\nforth\n (a) The amount of the original contribution of each limited partner,\nand the time when the contribution was made, and\n (b) That the property of the partnership exceeds the amount sufficient\nto discharge its liabilities to persons not claiming as general or\nlimited partners by an amount greater than the sum of the contributions\nof its limited partners.\n (2) The provisions of this article, or the repeal of article eight of\nthis chapter, shall not affect or impair any act done or right accrued,\nacquired or established by a limited partnership formed under any\nstatute of this state prior to its adoption, until or unless it becomes\na limited partnership in accordance with the provisions of this article,\nand the same may be conducted in the same manner and to the same extent\nas if this article had not been passed.\n

Status: in_force · Read it on the official government site

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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.