State Codes and Statutes

Statutes > New-york > Ptr > Article-8-a > 121-603

§ 121-603. Withdrawal of a limited partner.  (a) A limited partner may  withdraw from a limited partnership at the time or upon the happening of  events specified in the partnership agreement and in accordance with the  partnership  agreement.   Notwithstanding anything to the contrary under  applicable law, unless a partnership  agreement  provides  otherwise,  a  limited partner may not withdraw from a limited partnership prior to the  dissolution  and  winding up of the limited partnership. Notwithstanding  anything to the contrary under applicable law, a  partnership  agreement  may provide that a partnership interest may not be assigned prior to the  dissolution and winding up of the limited partnership.    (b)  A  limited  partnership  whose  original  certificate  of limited  partnership was filed with the secretary of state and effective prior to  the effective date of this subdivision shall continue to be governed  by  this section as in effect on such date and shall not be governed by this  section, unless otherwise provided in the partnership agreement.

State Codes and Statutes

Statutes > New-york > Ptr > Article-8-a > 121-603

§ 121-603. Withdrawal of a limited partner.  (a) A limited partner may  withdraw from a limited partnership at the time or upon the happening of  events specified in the partnership agreement and in accordance with the  partnership  agreement.   Notwithstanding anything to the contrary under  applicable law, unless a partnership  agreement  provides  otherwise,  a  limited partner may not withdraw from a limited partnership prior to the  dissolution  and  winding up of the limited partnership. Notwithstanding  anything to the contrary under applicable law, a  partnership  agreement  may provide that a partnership interest may not be assigned prior to the  dissolution and winding up of the limited partnership.    (b)  A  limited  partnership  whose  original  certificate  of limited  partnership was filed with the secretary of state and effective prior to  the effective date of this subdivision shall continue to be governed  by  this section as in effect on such date and shall not be governed by this  section, unless otherwise provided in the partnership agreement.

State Codes and Statutes

State Codes and Statutes

Statutes > New-york > Ptr > Article-8-a > 121-603

§ 121-603. Withdrawal of a limited partner.  (a) A limited partner may  withdraw from a limited partnership at the time or upon the happening of  events specified in the partnership agreement and in accordance with the  partnership  agreement.   Notwithstanding anything to the contrary under  applicable law, unless a partnership  agreement  provides  otherwise,  a  limited partner may not withdraw from a limited partnership prior to the  dissolution  and  winding up of the limited partnership. Notwithstanding  anything to the contrary under applicable law, a  partnership  agreement  may provide that a partnership interest may not be assigned prior to the  dissolution and winding up of the limited partnership.    (b)  A  limited  partnership  whose  original  certificate  of limited  partnership was filed with the secretary of state and effective prior to  the effective date of this subdivision shall continue to be governed  by  this section as in effect on such date and shall not be governed by this  section, unless otherwise provided in the partnership agreement.