Section 96. Limited partner not liable to creditors  


Latest version.
  • 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.