2020 Colorado Revised Statutes
Title 7 - Corporations And Associations
Article 64. Colorado Uniform Partnership Act (1997)
Section 7-64-803. Right to wind up partnership business.
(1) After dissolution, a partner who has not wrongfully dissociated may participate in winding up the partnership's business, but on application of any partner, partner's legal representative, or transferee, the district court, for good cause shown, may order judicial supervision of the winding up.
The legal representative of the last surviving partner may wind up a partnership'sbusiness.
A person winding up a partnership's business may preserve the partnership businessor property as a going concern for a reasonable time, prosecute and defend actions and proceedings, whether civil, criminal, or administrative, settle disputes, settle and close the partnership's business, dispose of and transfer the partnership's property, discharge or provide for the partnership obligations, distribute the assets of the partnership pursuant to section 7-64-807, and perform other necessary acts.
Source: L. 97: Entire article added, p. 892, § 1, effective January 1, 1998.
