2023 Colorado Revised Statutes
Title 7 - CORPORATIONS AND ASSOCIATIONS (§§ 7-1-101 — 7-137-301)
PARTNERSHIPS (§§ 7-60-101 — 7-64-1206)
Article 60 - UNIFORM PARTNERSHIP LAW (§§ 7-60-101 — 7-60-154)
Section 7-60-115 - Nature of partner's liability

• (1) Except as otherwise provided in subsection (2) of this section, all partners are liable:
  • (a) Jointly and severally for everything chargeable to the partnership under sections 7-60-113 and 7-60-114;
  • (b) Jointly and severally for all other debts and obligations of the partnership, but any partner may enter into a separate obligation to perform a partnership contract.

• (2)
  • (a) Except as otherwise provided in the partnership agreement, partners in a limited liability partnership are not liable directly or indirectly, including by way of indemnification, contribution, or otherwise, under a judgment, decree, or order of a court, or in any other manner, for a debt, obligation, or liability of or chargeable to the partnership while it is a limited liability partnership; except that this subsection (2) shall not affect the liability of a partner in a limited liability partnership for such partner's own negligence, wrongful acts, or misconduct.
  • (b) Partners in a limited liability partnership do not become liable, directly or indirectly, for debts, obligations, or liabilities incurred while the partnership was a limited liability partnership merely because the partnership ceases to be a limited liability partnership.

L. 31: p. 652, § 15. CSA: C. 123, § 15. CRS 53: § 104-1-15. C.R.S. 1963: § 104-1-15. L. 73: p. 1082, § 1. L. 95: Entire section amended, p. 778, § 3, effective May 24. L. 2004: (2) amended, p. 1423, § 77, effective July 1.

For service on partnerships, see rule 4(e)(4), C.R.C.P.; for judgments against partners and partnerships, see rule 54(e), C.R.C.P.; for judgments against partners not served with process, see rule 106 (a)(5), C.R.C.P.; for joint rights and obligations, see § 13-50-101.