NY Pship L § 72 (2021)
2021 New York Laws PTR - Partnership Article 6 - Dissolution and Winding Up. 72 - Liability of Persons Continuing the Business in Certain Cases.

§  72.  Liability of persons continuing the business in certain cases.   1. When any new partner is admitted into  an  existing  partnership,  or   when  any  partner  retires  and  assigns  (or the representative of the   deceased partner assigns) his rights in partnership property to  two  or   more  of the partners, or to one or more of the partners and one or more   third persons, if the business is continued without liquidation  of  the   partnership affairs, creditors of the first or dissolved partnership are   also creditors of the partnership so continuing the business.2.  When  all but one partner retire and assign (or the representative   of a deceased partner assigns) their rights in partnership  property  to   the remaining partner, who continues the business without liquidation of   partnership  affairs,  either  alone  or  with  others, creditors of the   dissolved partnership are also creditors of the person or partnership so   continuing the business.3. When any partner retires or dies and the business of the  dissolved   partnership  is  continued  as  set forth in subdivisions one and two of   this  section,  with  the  consent  of  the  retired  partners  or   the   representative  of  the  deceased partner, but without any assignment of   his right in partnership property, rights of creditors of the  dissolved   partnership and of the creditors of the person or partnership continuing   the business shall be as if such assignment had been made.4.  When all the partners or their representatives assign their rights   in partnership property to one or more third persons who promise to  pay   the  debts  and  who continue the business of the dissolved partnership,   creditors of the dissolved partnership are also creditors of the  person   or partnership continuing the business.5.  When any partner wrongfully causes a dissolution and the remaining   partners  continue  the  business  under  the  provisions   of   section   sixty-nine,  paragraph  (b)  of  subdivision  two,  either alone or with   others, and without liquidation of the partnership affairs, creditors of   the  dissolved  partnership  are  also  creditors  of  the   person   or   partnership continuing the business.6.  When a partner is expelled and the remaining partners continue the   business either  alone  or  with  others,  without  liquidation  of  the   partnership  affairs,  creditors  of  the dissolved partnership are also   creditors of the person or partnership continuing the business.7. The  liability  of  a  third  person  becoming  a  partner  in  the   partnership  continuing the business under this section to the creditors   of the dissolved partnership  shall  be  satisfied  out  of  partnership   property only.8.  When  the business of a partnership after dissolution is continued   under any conditions set forth in this  section  the  creditors  of  the   dissolved partnership, as against the separate creditors of the retiring   or  deceased partner or the representative of the deceased partner, have   a prior right to any claim of the retired partner or the  representative   of the deceased partner against the person or partnership continuing the   business,  on  account  of the retired or deceased partner's interest in   the dissolved partnership or on account of  any  consideration  promised   for such interest or for his right in partnership property.9.  Nothing  in  this  section  shall  be  held to modify any right of   creditors to set aside any assignment on the ground of fraud.10. The use by the person or partnership continuing  the  business  of   the partnership name, or the name of a deceased partner as part thereof,   shall not of itself make the individual property of the deceased partner   liable for any debts contracted by such person or partnership.