2016 New York Laws
PTR - Partnership
Article 8-A - (Partnership) REVISED LIMITED PARTNERSHIP ACT
121-705 - Liability upon assignment.

   121-705.   Liability  upon  assignment.  (a)  The  assignor  of  a
  partnership interest is not  released  from  any  liability  under  this
  article  or  the  partnership  agreement, except liabilities which arise
  after the effectiveness of the assignment and are  pursuant  to  section
  121-207  of  this  article,  section  121-607 of this article or, in the
  event the assignee becomes a limited partner, unless otherwise  provided
  in the partnership agreement, section 121-502 of this article.
(b)  An  assignee  who  becomes  a  limited  partner is liable for the
  obligations to make contributions and return distributions  as  provided
  for  in  this  article,  provided,  however,  that  the  assignee is not
  obligated for liabilities unknown to the assignee at the time he  became
  a   limited  partner  and  which  could  not  be  ascertained  from  the
  partnership agreement and provided, further, that the  assignee  is  not
  obligated  for  any  accrued  liabilities of the assignor at the time of
  assignment unless the assignee specifically assumes such liabilities.