N.Y. Partnership Law § 121-108

§ 121-108. Business transactions of partner with the partnership.\nExcept as may be provided in the partnership agreement, a partner may\nlend money to, borrow money from, act as a guarantor or surety for,\nprovide collateral for the obligations of, and transact other business\nwith the limited partnership, and, subject to other applicable law, has\nthe same rights and obligations with respect thereto as a person who is\nnot a partner.\n