2006 New York Code - Liability For False Statement In Certificate.

 
    §  121-207.  Liability  for false statement in certificate. (a) If any
  certificate of limited partnership, certificate of amendment,  or  other
  certificate  filed  pursuant to this article contains a materially false
  statement, one who suffers loss by reasonable reliance on the  statement
  may recover damages for the loss from:
    (1)  any  person  who  executes  the certificate, or causes another to
  execute it on his behalf, and knew, and any general partner who knew  of
  the  filing  of  such certificate and who knew or should have known with
  the exercise of reasonable care and diligence, the statement to be false
  in any material respect at the time the certificate was executed; and
    (2) any general partner who thereafter knows of  the  filing  of  such
  certificate  and  who  knows  or  should have known with the exercise of
  reasonable care  and  diligence  that  any  arrangement  or  other  fact
  described  in the certificate has changed, making the statement false in
  any material respect, if that general partner had ninety days  to  amend
  or  cancel  the  certificate, or to file a petition for its amendment or
  cancellation before the statement was relied upon.
    (b) No person shall have  any  liability  for  failing  to  cause  the
  amendment  or  cancellation  of  a certificate to be filed or failing to
  file a petition for its amendment or cancellation, if the certificate or
  petition is filed within ninety days of the time when that  person  knew
  or  should have known that the statement in the certificate was false in
  any material respect.