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New York Consolidated Laws, Partnership Law - PTR § 121-403. General powers and liabilities

Current as of January 01, 2026 | Updated by Findlaw Staff

(a) Except as provided in this article or in the partnership agreement, a general partner of a limited partnership has the rights and powers and is subject to the restrictions of a partner in a partnership without limited partners.

(b) Except as provided in this article, a general partner of a limited partnership has the liabilities of a partner in a partnership without limited partners to persons other than the limited partnership and the other partners.

(c) Except as provided in this article or in the partnership agreement, a general partner of a limited partnership has the liabilities of a partner in a partnership without limited partners to the limited partnership and to the other partners.

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Cite this article: FindLaw.com - New York Consolidated Laws, Partnership Law - PTR § 121-403. General powers and liabilities - last updated January 01, 2026 | https://codes.findlaw.com/ny/partnership-law/ptr-sect-121-403/

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