Statute · New York Partnership Law
N.Y. P'ship Law § 121-602 — Withdrawal of a general partner
N.Y. P'ship Law § 121-602
- Type
- Statute
- Source
- New York Partnership Law
- Jurisdiction
- New York
- Current through
- Nov 5, 2026 (NY Senate Open Legislation)
§ 121-602. Withdrawal of a general partner. A general partner may withdraw from a limited partnership at any time by giving written notice to the other partners, but if the withdrawal violates the partnership agreement, the limited partnership may recover from the withdrawing general partner…
Citator
N.Y. P'ship Law § 121-602 — Withdrawal of a general partner is in force in the current edition of the Code, and nothing recorded condemns it.
§ 121-602. Withdrawal of a general partner. A general partner may withdraw from a limited partnership at any time by giving written notice to the other partners, but if the withdrawal violates the partnership agreement, the limited partnership may recover from the withdrawing general partner damages for breach of the partnership agreement, which may be determined as set forth in the partnership agreement, and offset the damages against the amount otherwise distributable to him.