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2016 New York Laws
PTR - Partnership
Article 8-A - (Partnership) REVISED LIMITED PARTNERSHIP ACT
121-108 - Business transactions of partner with the partnership.

NY Pship L § 121-108 (2016) What's This?
  121-108.  Business  transactions  of  partner with the partnership.
  Except as may be provided in the partnership agreement,  a  partner  may
  lend  money  to,  borrow  money  from, act as a guarantor or surety for,
  provide collateral for the obligations of, and transact  other  business
  with  the limited partnership, and, subject to other applicable law, has
  the same rights and obligations with respect thereto as a person who  is
  not a partner.

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