2016 Colorado Revised Statutes
Title 7 - Corporations and Associations
Partnerships
Article 60 - Uniform Partnership Law
§ 7-60-153. Application of corporation case law to set aside limited liability

CO Rev Stat ยง 7-60-153 (2016) What's This?

(1) In any case in which a party seeks to hold the partners of a limited liability partnership or limited liability limited partnership personally responsible for the alleged improper actions of the limited liability partnership or limited liability limited partnership, the court shall apply the case law that interprets the conditions and circumstances under which the corporate veil of a corporation may be pierced under Colorado law.

(2) For purposes of this section, the failure of a limited liability partnership or limited liability limited partnership to observe the formalities or requirements relating to the management of its business and affairs is not in itself a ground for imposing personal liability on the partners for liabilities of the limited liability partnership or limited liability limited partnership.

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