Statute · New York Partnership Law
N.Y. P'ship Law § 96 — Limited partner not liable to creditors
N.Y. P'ship Law § 96
- Type
- Statute
- Source
- New York Partnership Law
- Jurisdiction
- New York
- Current through
- Nov 5, 2026 (NY Senate Open Legislation)
§ 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…
Citator
N.Y. P'ship Law § 96 — Limited partner not liable to creditors is in force in the current edition of the Code, and nothing recorded condemns it.
§ 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.