2023 New York Laws
PTR - Partnership
Article 8 - Limited Partnerships.
98 - Rights, Powers and Liabilities of a General Partner.

Universal Citation:
NY Pship L § 98 (2023)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.
§  98.  Rights,  powers  and  liabilities of a general partner.  (1) A
general partner shall have all the rights and powers and be  subject  to
all  the  restrictions  and  liabilities  of  a partner in a partnership
without limited partners, except that without  the  written  consent  or
ratification  of the specific act by all the limited partners, a general
partner or all of the general partners have no authority to

(a) Do any act in contravention of the certificate.

(b) Do any act which would make it impossible to carry on the ordinary business of the partnership.

(c) Confess a judgment against the partnership.

(d) Possess partnership property, or assign their rights in specific partnership property, for other than a partnership purpose.

(e) Admit a person as a general partner.

(f) Admit a person as a limited partner, unless the right so to do is given in the certificate.

(g) Continue the business with partnership property on the death, retirement or insanity of a general partner, unless the right so to do is given in the certificate.

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