New York § 100 - 100Status of person erroneously believing himself a limited partner
Full text of New York New York Consolidated Laws § 100 — 100Status of person erroneously believing himself a limited partner, with citation guidance and answers to common questions.
§ 100. 100Status of person erroneously believing himself a limited partner
§ 100. Status of person erroneously believing himself a limited partner. A person who has contributed to the capital of a business conducted by a person or partnership erroneously believing that he has become a limited partner in a limited partnership is not, by reason of his exercise of the rights of a limited partner, a general partner with the person or in the partnership carrying on the business, or bound by the obligations of such person or partnership; provided that on ascertaining the mistake he promptly renounces his interest in the profits of the business, or other compensation by way of income.
Source: official New York text · Last verified 2026-08-27
Frequently Asked Questions About New York § 100
What does New York Consolidated Laws § 100 cover?
Section 100 ("100Status of person erroneously believing himself a limited partner") is part of the New York Consolidated Laws, the codified statutory law of New York. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New York § 100?
A common citation format is "New York Consolidated Laws § 100" (New York). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New York law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New York official source linked on this page or consult a licensed New York attorney.
How does New York § 100 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New York can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New York.