Public-domain · open source
OpenJurist

C.R.S. § 7-62-403

General powers and liabilities

Known as the Colorado Uniform Limited Partnership Act

The act spans §§ 7–7 (55 sections).

(1) Except as provided in this article or in the partnership agreement, a general partner of a limited partnership has the rights and powers and is subject to the restrictions of a partner in a partnership without limited partners. (2) Intentionally left blank —Ed. (a) Except as provided in this article: (I) A general partner of a limited partnership has the liabilities of a partner in a partnership without limited partners to persons other than the partnership and the other partners; and (II) A general partner of a limited liability limited partnership has the liabilities of a partner in a limited liability partnership to persons other than the partnership and the other partners. (b) Except as provided in this article or in the partnership agreement: (I) A general partner of a limited partnership has the liabilities of a partner in a partnership without limited partners to the partnership and to the other partners; and (II) A general partner of a limited liability limited partnership has the liabilities of a partner in a limited liability partnership to the partnership and to the other partners. (3) For a limited partnership that has made the election permitted by section 7-62-1104 , the article so elected shall be the governing law for purposes of subsections (1) and (2) of this section. For a limited partnership that has not made the election permitted by section 7-62-1104 , article 60 of this title shall be the governing law for purposes of subsections (1) and (2) 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.