2006 New York Code - Distribution Of Assets.

 
    §  121-804.  Distribution  of assets. Upon the winding up of a limited
  partnership, the assets shall be distributed as follows:
    (a) to creditors, including partners who are creditors, to the  extent
  permitted  by  law,  in  satisfaction  of  liabilities  of  the  limited
  partnership,  whether  by  payment  or  by  establishment  of   adequate
  reserves,  other  than  liabilities  for distributions to partners under
  section 121-601 or 121-604 of this article;
    (b) except as provided in the partnership agreement, to  partners  and
  former  partners  in satisfaction of liabilities for distributions under
  section 121-601 or 121-604 of this article; and
    (c) except as provided in the partnership agreement, to partners first
  for the return of their contributions,  to  the  extent  not  previously
  returned,  and  secondly  respecting their partnership interests, in the
  proportions in which the partners share in distributions  in  accordance
  with section 121-504 of this article.