New York § 121-1105 - 121-1105Payment for interest of dissenting limited partners
Full text of New York New York Consolidated Laws § 121-1105 — 121-1105Payment for interest of dissenting limited partners, with citation guidance and answers to common questions.
§ 121-1105. 121-1105Payment for interest of dissenting limited partners
§ 121-1105. Payment for interest of dissenting limited partners. (a) Within ten days after the occurrence of an event described in section 121-1102 of this article, the surviving or resulting limited partnership shall send to each dissenting former limited partner a written offer to pay in cash the fair value of such former partner's interest. Payment in cash shall be made to each former limited partner accepting such offer within ten days after notice of such acceptance is received by the surviving or resulting limited partnership. (b) If a former limited partner and the surviving or resulting limited partnership fail to agree on the price to be paid for the former limited partner's partnership interest within ninety days after the surviving or resulting limited partnership shall have made the offer provided for in subdivision (a) of this section, or if the limited partnership or surviving limited partnership shall fail to make such an offer within the period provided for in subdivision (a) of this section, the procedure provided for in paragraphs (h)-(k) of section six hundred twenty-three of the business corporation law shall apply, as they may be amended from time to time. (c) A payment under this section shall constitute a return of a partner's contribution for the purposes of section 121-607 of this article.
Source: official New York text · Last verified 2026-08-27
Frequently Asked Questions About New York § 121-1105
What does New York Consolidated Laws § 121-1105 cover?
Section 121-1105 ("121-1105Payment for interest of dissenting limited partners") 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 § 121-1105?
A common citation format is "New York Consolidated Laws § 121-1105" (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 § 121-1105 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.