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N.Y. Partnership Law § 103

Relation of limited partners inter se

2014-09-22

§ 103. Relation of limited partners inter se. Where there are several\nlimited partners the members may agree that one or more of the limited\npartners shall have a priority over other limited partners as to the\nreturn of their contributions, as to their compensation by way of\nincome, or as to any other matter. If such an agreement is made it shall\nbe stated in the certificate, and in the absence of such a statement all\nthe limited partners shall stand upon equal footing.\n

Official source: NYS Open Legislation (New York State Senate). Reproduced from public-domain New York statutes; confirm against the official source for the current text. Not legal advice.