N.Y. Partnership Law 94 – Name not to contain surname of limited partner; exceptions
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§ 94. Name not to contain surname of limited partner; exceptions. (1) The surname of a limited partner shall not appear in the partnership name, unless
Terms Used In N.Y. Partnership Law 94
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
(a) It is also the surname of a general partner, or
(b) Prior to the time when the limited partner became such the business had been carried on under a name in which his surname appeared.
(2) A limited partner whose name appears in a partnership name contrary to the provisions of subdivision one of this section is liable as a general partner to partnership creditors who extend credit to the partnership without actual knowledge that he is not a general partner.