New York Laws
Article 8-A - Revised Limited Partnership Act
121-804 - Distribution of Assets.

(a) to creditors, including partners who are creditors, to the extent
permitted by law, in satisfaction of liabilities of the limited
partnership, whether by payment or by establishment of adequate
reserves, other than liabilities for distributions to partners under
section 121-601 or 121-604 of this article;
(b) except as provided in the partnership agreement, to partners and
former partners in satisfaction of liabilities for distributions under
section 121-601 or 121-604 of this article; and
(c) except as provided in the partnership agreement, to partners first
for the return of their contributions, to the extent not previously
returned, and secondly respecting their partnership interests, in the
proportions in which the partners share in distributions in accordance
with section 121-504 of this article.

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