There Is a Newer Version of the New York Consolidated Laws
2012 New York Consolidated Laws
PTR - Partnership
Article 8 - (90 - 119) LIMITED PARTNERSHIPS.
96 - Limited partner not liable to creditors.
NY Pship L § 96 (2012) What's This?
§ 96. Limited partner not liable to creditors. A limited partner
shall not become liable as a general partner unless, in addition to the
exercise of his rights and powers as a limited partner, he takes part in
the control of the business; and the exercise of the rights and powers
granted by subdivision three of section ninety-nine of this chapter
shall not constitute taking part in the control of the business. The
commencement of or other participation by a limited partner in an action
brought pursuant to section one hundred fifteen-a of this article shall
not be deemed to be a taking part in the control of the business within
the meaning of this section.
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