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Statutes » New York » PTR Law » Article 8

N.Y. PTR Law § 98

This is the official text of N.Y. PTR Law § 98, 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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Rights, powers and liabilities of a general partner

Official statutory text

§ 98. Rights, powers and liabilities of a general partner. (1) A\ngeneral partner shall have all the rights and powers and be subject to\nall the restrictions and liabilities of a partner in a partnership\nwithout limited partners, except that without the written consent or\nratification of the specific act by all the limited partners, a general\npartner or all of the general partners have no authority to\n (a) Do any act in contravention of the certificate.\n (b) Do any act which would make it impossible to carry on the ordinary\nbusiness of the partnership.\n (c) Confess a judgment against the partnership.\n (d) Possess partnership property, or assign their rights in specific\npartnership property, for other than a partnership purpose.\n (e) Admit a person as a general partner.\n (f) Admit a person as a limited partner, unless the right so to do is\ngiven in the certificate.\n (g) Continue the business with partnership property on the death,\nretirement or insanity of a general partner, unless the right so to do\nis given in the certificate.\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.