2020 Colorado Revised Statutes
Title 7 - Corporations And Associations
Article 64. Colorado Uniform Partnership Act (1997)
Section 7-64-306. Partner's liability.
(1) Except as otherwise provided in this section, all partners are liable jointly and severally for all partnership obligations unless otherwise agreed by the claimant or provided by law.
A person admitted as a partner into an existing partnership is not personally liable forany partnership obligations incurred before the person's admission as a partner.
Except as otherwise provided in a written partnership agreement, a person is not,solely by reason of being a partner, liable, directly or indirectly, including by way of indemnification, contribution, assessment, or otherwise, for partnership obligations which are incurred, created, or assumed by the partnership while the partnership is a limited liability partnership.
A partner in a limited liability partnership does not become liable, directly or indirectly, for partnership obligations incurred, created, or assumed while the partnership was a limited liability partnership merely because the partnership ceases to be a limited liability partnership.
Source: L. 97: Entire article added, p. 877, § 1, effective January 1, 1998.
