N.Y. PTR Law § 96
This is the official text of N.Y. PTR Law § 96, 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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Limited partner not liable to creditors
Official statutory text
§ 96. Limited partner not liable to creditors. A limited partner\nshall not become liable as a general partner unless, in addition to the\nexercise of his rights and powers as a limited partner, he takes part in\nthe control of the business; and the exercise of the rights and powers\ngranted by subdivision three of section ninety-nine of this chapter\nshall not constitute taking part in the control of the business. The\ncommencement of or other participation by a limited partner in an action\nbrought pursuant to section one hundred fifteen-a of this article shall\nnot be deemed to be a taking part in the control of the business within\nthe meaning of this section.\n
Status: in_force · Read it on the official government site
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