New York § 121-207 - 121-207Liability for false statement in certificate
Full text of New York New York Consolidated Laws § 121-207 — 121-207Liability for false statement in certificate, with citation guidance and answers to common questions.
§ 121-207. 121-207Liability for false statement in certificate
§ 121-207. Liability for false statement in certificate. (a) If any certificate of limited partnership, certificate of amendment, or other certificate filed pursuant to this article contains a materially false statement, one who suffers loss by reasonable reliance on the statement may recover damages for the loss from: (1) any person who executes the certificate, or causes another to execute it on his behalf, and knew, and any general partner who knew of the filing of such certificate and who knew or should have known with the exercise of reasonable care and diligence, the statement to be false in any material respect at the time the certificate was executed; and (2) any general partner who thereafter knows of the filing of such certificate and who knows or should have known with the exercise of reasonable care and diligence that any arrangement or other fact described in the certificate has changed, making the statement false in any material respect, if that general partner had ninety days to amend or cancel the certificate, or to file a petition for its amendment or cancellation before the statement was relied upon. (b) No person shall have any liability for failing to cause the amendment or cancellation of a certificate to be filed or failing to file a petition for its amendment or cancellation, if the certificate or petition is filed within ninety days of the time when that person knew or should have known that the statement in the certificate was false in any material respect.
Source: official New York text · Last verified 2026-08-27
Frequently Asked Questions About New York § 121-207
What does New York Consolidated Laws § 121-207 cover?
Section 121-207 ("121-207Liability for false statement in certificate") 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 § 121-207?
A common citation format is "New York Consolidated Laws § 121-207" (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 § 121-207 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.