New York § 100 Status of person erroneously believing himself a limited partner

New York Statutes

§ 100 — Status of person erroneously believing himself a limited partner

New York § 100

Law PTRPartnership

Art. 8Limited Partnerships

This text of New York § 100 (Status of person erroneously believing himself a limited partner) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.Y. Partnership § 100 (2026).

Text

  § 100. Status of person erroneously believing himself a limited\npartner.  A person who has contributed to the capital of a business\nconducted by a person or partnership erroneously believing that he has\nbecome a limited partner in a limited partnership is not, by reason of\nhis exercise of the rights of a limited partner, a general partner with\nthe person or in the partnership carrying on the business, or bound by\nthe obligations of such person or partnership; provided that on\nascertaining the mistake he promptly renounces his interest in the\nprofits of the business, or other compensation by way of income.\n

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§ 100. Status of person erroneously believing himself a limited\npartner. A person who has contributed to the capital of a business\nconducted by a person or partnership erroneously believing that he has\nbecome a limited partner in a limited partnership is not, by reason of\nhis exercise of the rights of a limited partner, a general partner with\nthe person or in the partnership carrying on the business, or bound by\nthe obligations of such person or partnership; provided that on\nascertaining the mistake he promptly renounces his interest in the\nprofits of the business, or other compensation by way of income.\n