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New York Partnership Law Section 96 - Limited Partner Not Liable To Creditors.

Legal Research Home > New York Lawyer > Partnership > New York Partnership Law Section 96 - Limited Partner Not Liable To Creditors.

    § 96.  Limited  partner  not liable to creditors.   A limited partner
  shall not become liable as a general partner unless, in addition to  the
  exercise of his rights and powers as a limited partner, he takes part in
  the  control  of the business; and the exercise of the rights and powers
  granted by subdivision three of  section  ninety-nine  of  this  chapter
  shall  not  constitute  taking part in the control of the business.  The
  commencement of or other participation by a limited partner in an action
  brought pursuant to section one hundred fifteen-a of this article  shall
  not  be deemed to be a taking part in the control of the business within
  the meaning of this section.

Last modified: August 9, 2006