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2017 Colorado Revised Statutes
Title 7 - Corporations and Associations
Partnerships
Article 61 - Uniform Limited Partnership Law of 1931
§ 7-61-112. Status of person erroneously believing self to be a limited partner
Universal Citation: CO Rev Stat ยง 7-61-112 (2017)
A person who has contributed to the capital of a business conducted by a person or partnership erroneously believing that the person has become a limited partner in a limited partnership is not, by reason of the person's exercise of the rights of a limited partner, a general partner with the person or in the partnership carrying on the business or bound by the obligations of such person or partnership if, on ascertaining the mistake, the person promptly renounces the person's interest in the profits of the business or other compensation by way of income.
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