Laws of New York (Last Updated: November 21, 2014) |
PTR Partnership |
Article 8-A. REVISED LIMITED PARTNERSHIP ACT |
Section 121-403. General powers and liabilities
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(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.