2021 Colorado Code
Title 7 - Corporations and Associations
Article 60 - Uniform Partnership Law
§ 7-60-129. Dissolution Defined
The dissolution of a partnership is the change in the relation of the partners caused by any partner ceasing to be associated in the carrying on as distinguished from the winding up of the business.
History. Source: L. 31: P. 660, § 29. CSA: C. 123, § 29. CRS 53: § 104-1-29. C.R.S. 1963: § 104-1-29. History. Source: L. 31: P. 660, § 29. CSA: C. 123, § 29. CRS 53: § 104-1-29. C.R.S. 1963: § 104-1-29.
ANNOTATION
No party is compelled to continue as a partner when, by his express will, he chooses to withdraw. Wester & Co. v. Nestle, 669 P.2d 1046 (Colo. App. 1983).
Remaining partners may continue as partnership. When one partner withdraws from the business, the partnership is dissolved as to that party, although the remaining partners may elect to continue operating as a partnership. Wester & Co. v. Nestle, 669 P.2d 1046 (Colo. App. 1983).
In distributing marital assets, awarding the nonpartner spouse an in-kind division of the partner spouse's partnership interest could result in dissolution of the partnership or disruption of partnership business. In re Paul, 821 P.2d 925 (Colo. App. 1991).