New York Statutes
§ 121-403 — General powers and liabilities
§ 121-403. General powers and liabilities.
(a)Except as provided in\nthis article or in the partnership agreement, a general partner of a\nlimited partnership has the rights and powers and is subject to the\nrestrictions of a partner in a partnership without limited partners.\n (b) Except as provided in this article, a general partner of a limited\npartnership has the liabilities of a partner in a partnership without\nlimited partners to persons other than the limited partnership and the\nother partners.\n (c) Except as provided in this article or in the partnership\nagreement, a general partner of a limited partnership has the\nliabilities of a partner in a partnership without limited partners to\nthe limited partnership and to the other partners.\n
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Nearby Sections
15
§ 121-1001
Parties to actions§ 121-1002
Limited partners' derivative action§ 121-1003
Security for expenses§ 121-1004
Indemnification of general partner§ 121-101
Definitions§ 121-102
Partnership name§ 121-103
Reservation of partnership name§ 121-104-A
Resignation for receipt of process§ 121-105
Registered agent§ 121-106
Records§ 121-107
Nature of business§ 121-109-A
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