121-904 - Application for authority; effect. - New York Statutes

§ 121-904. Application for authority; effect. (a) Upon filing by the department of state of the application for authority the foreign limited partnership shall be authorized to do business in this state. Such authority shall continue so long as it retains its authority to do business in the jurisdiction of its formation and its authority to do business has not been surrendered, suspended or annulled in accordance with the law. (b) A foreign limited partnership which has received a certificate of authority shall have such powers to conduct business in this state as are permitted by the laws of the jurisdiction in which it was organized but no greater than those of a domestic limited partnership; provided, that this subdivision shall not affect the powers of the foreign limited partnership outside this state.