N.Y. PTR Law § 121-403
This is the official text of N.Y. PTR Law § 121-403, 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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General powers and liabilities
Official statutory text
§ 121-403. General powers and liabilities. (a) Except as provided in\nthis article or in the partnership agreement, a general partner of a\nlimited partnership has the rights and powers and is subject to the\nrestrictions of a partner in a partnership without limited partners.\n (b) Except as provided in this article, a general partner of a limited\npartnership has the liabilities of a partner in a partnership without\nlimited partners to persons other than the limited partnership and the\nother partners.\n (c) Except as provided in this article or in the partnership\nagreement, a general partner of a limited partnership has the\nliabilities of a partner in a partnership without limited partners to\nthe limited partnership and to the other partners.\n
Status: in_force · Read it on the official government site
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