Skip to main content
CourtGPT logoCourtGPT
Directory
Law
For Attorneys
Blog
AppointmentsSign InSign Up
119 — New York Law | CourtGPT
  1. Home/
  2. Laws/
  3. New York/
  4. Ptr - Partnership/
  5. Article 8 - Limited Partnerships.90 - Limited Partnership Defined/
  6. 119
New York Legal Code

119

Ask AI about this
(1) A limited partnership formed under any statute of this state prior to the adoption of this article may become a limited partnership under this article by complying with the provisions of section ninety-one, provided the certificate sets forth (a) The amount of the original contribution of each limited partner, and the time when the contribution was made, and (b) That the property of the partnership exceeds the amount sufficient to discharge its liabilities to persons not claiming as general or limited partners by an amount greater than the sum of the contributions of its limited partners. (2) The provisions of this article, or the repeal of article eight of this chapter, shall not affect or impair any act done or right accrued, acquired or established by a limited partnership formed under any statute of this state prior to its adoption, until or unless it becomes a limited partnership in accordance with the provisions of this article, and the same may be conducted in the same manner and to the same extent as if this article had not been passed.