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C.R.S. § 7-61-110

General partner

Known as the Uniform Limited Partnership Law

The act spans §§ 7–7 (31 sections).

(1) A general partner shall have all the rights and powers and be subject to all the restrictions and liabilities of a partner in a partnership without limited partners, but without the written consent or ratification of the specific act by all the limited partners, a general partner or all of the general partners have no authority to: (a) Do any act in contravention of the certificate; (b) Do any act which would make it impossible to carry on the ordinary business of the partnership; (c) Confess a judgment against the partnership; (d) Possess partnership property or assign their rights in specific partnership property for other than a partnership purpose; (e) Admit a person as a general partner; (f) Admit a person as a limited partner, unless the right to do so is given in the certificate; (g) Continue the business with partnership property on the death, retirement, or insanity of a general partner, unless the right to do so is given in the certificate. (2) For a limited partnership that has made the election permitted by section 7-61-129 , the article so elected shall be the governing law for purposes of subsection (1) of this section. For a limited partnership that has not made the election permitted by section 7-61-129 , article 60 of this title shall be the governing law for purposes of subsection (1) of this section.

Digitized from: Public.Law — Colorado Revised Statutes. Reproduced from public-domain Colorado statutes; confirm against the official source for the current text. Not legal advice.