Set up a limited partnership between a general partner and several limited partners with this Limited Partnership Agreement template for the State of New York.
- Limited partners must purchase a minimum number of partnership units in accordance with a private placement offering. Limited partners will not be obligated to make additional capital contributions.
- Capital contributions not used for operations within a specified number of years will be returned, with deductions for offering expenses.
- Capital contributions cannot be withdrawn or reduced except as a result of the dissolution of the partnership.
- Partnership units may be transferred or assigned with the consent of the general partner.
- Additional general partners may be admitted, provided they have substantial means to protect the federal tax status of the partnership. Any additional general partners will not be entitled to share in the distributions allocable to the limited partners.
This New York Limited Partnership Agreement
template is downloadable and fully customizable to fit your specific needs.
Last Updated: 14-April-2016