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the New York Laws
2021 New York Laws
PTR - Partnership
Article 8 - Limited Partnerships.
111 - Rights of Creditors of Limited Partner.
Universal Citation:
NY Pship L § 111 (2021)
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This media-neutral citation is based
on the American Association of Law Libraries Universal Citation Guide and is not
necessarily the official citation.
§ 111. Rights of creditors of limited partner. (1) On due application to a court of competent jurisdiction by any judgment creditor of a limited partner, the court may charge the interest of the indebted limited partner with payment of the unsatisfied amount of the judgment debt; and may appoint a receiver, and make all other orders, directions, and inquiries which the circumstances of the case may require.(2) The interest may be redeemed with the separate property of any general partner, but may not be redeemed with partnership property.
(3) The remedies conferred by subdivision one of this section shall not be deemed exclusive of others which may exist.
(4) Nothing in this act shall be held to deprive a limited partner of his statutory exemption.
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