§ 98. Rights, powers and liabilities of a general partner. (1) A\ngeneral partner shall have all the rights and powers and be subject to\nall the restrictions and liabilities of a partner in a partnership\nwithout limited partners, except that without the written consent or\nratification of the specific act by all the limited partners, a general\npartner or all of the general partners have no authority to\n (a) Do any act in contravention of the certificate.\n (b) Do any act which would make it impossible to carry on the ordinary\nbusiness of the partnership.\n (c) Confess a judgment against the partnership.\n (d) Possess partnership property, or assign their rights in specific\npartnership property, for other than a partnership purpose.\n (e) Admit a person as a general partner.\n (f) Admit a person as a limited partner, unless the right so to do is\ngiven in the certificate.\n (g) Continue the business with partnership property on the death,\nretirement or insanity of a general partner, unless the right so to do\nis given in the certificate.\n
N.Y. Partnership Law § 98
Rights, powers and liabilities of a general partner
2014-09-22
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.