New York Partnership Law Section 121-301 - Admission of limited partners.

  121-301.  Admission  of  limited  partners.  (a) A person becomes a
  limited partner on the later of:
(1)  the  effective  date  of  the  original  certificate  of  limited
  partnership; or
(2) the date as of which the person becomes a limited partner pursuant
  to  the  partnership  agreement; provided, however, that if such date is
  not ascertainable, the  date  stated  in  the  records  of  the  limited
  partnership.
(b)  After  the  effective  date  of  a limited partnership's original
  certificate of limited partnership,  a  person  may  be  admitted  as  a
  limited partner:
(1)  in the case of a person acquiring a partnership interest directly
  from the limited  partnership,  upon  compliance  with  the  partnership
  agreement or, if the partnership agreement does not so provide, upon the
  written consent of all partners; and
(2)  in the case of an assignee of a partnership interest of a partner
  who has the power, as provided in section 121-704 of  this  article,  to
  grant  the  assignee  the  right  to  become a limited partner, upon the
  exercise of that power and compliance with any conditions  limiting  the
  grant or exercise of the power.

Last modified: February 3, 2019