N.Y. Partnership Law 113 – Certificate cancelled or amended
§ 113. Certificate cancelled or amended. (1) The certificate shall be cancelled when the partnership is dissolved or all limited partners cease to be such.
Terms Used In N.Y. Partnership Law 113
- 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.
(2) A certificate shall be amended when
(a) There is a change in the name of the partnership or in the amount or character of the contribution of any limited partner,
(b) A person is substituted as a limited partner,
(c) An additional limited partner is admitted,
(d) A person is admitted as a general partner,
(e) A general partner retires, dies or becomes mentally ill, and the business is continued under section one hundred and nine,
(f) There is a change in the character of the business of the partnership, or a change in the location of the principal place of business,
(g) There is a false or erroneous statement in the certificate,
(h) There is a change in the time as stated in the certificate for the dissolution of the partnership or for the return of a contribution,
(i) A time is fixed for the dissolution of the partnership, or the return of a contribution, no time having been specified in the certificate, or,
(j) The members desire to make a change in any other statement in the certificate in order that it shall accurately represent the agreement between them.