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2023 Colorado Revised Statutes
Title 7 - CORPORATIONS AND ASSOCIATIONS (§§ 7-1-101 — 7-137-301)
PARTNERSHIPS (§§ 7-60-101 — 7-64-1206)
Article 62 - COLORADO UNIFORM LIMITED PARTNERSHIP ACT OF 1981 (§§ 7-62-101 — 7-62-1201)
Part 4 - GENERAL PARTNERS (§§ 7-62-401 — 7-62-405)
Section 7-62-403 - General powers and liabilities
Universal Citation:
CO Rev Stat § 7-62-403 (2023)
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on the American Association of Law Libraries Universal Citation Guide and is not
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- (1) Except as provided in this article or in the partnership agreement, a general partner of a limited partnership has the rights and powers and is subject to the restrictions of a partner in a partnership without limited partners.
- (2)
- (a) Except as provided in this article:
- (I) A general partner of a limited partnership has the liabilities of a partner in a partnership without limited partners to persons other than the partnership and the other partners; and
- (II) A general partner of a limited liability limited partnership has the liabilities of a partner in a limited liability partnership to persons other than the partnership and the other partners.
- (b) Except as provided in this article or in the partnership agreement:
- (I) A general partner of a limited partnership has the liabilities of a partner in a partnership without limited partners to the partnership and to the other partners; and
- (II) A general partner of a limited liability limited partnership has the liabilities of a partner in a limited liability partnership to the partnership and to the other partners.
- (a) Except as provided in this article:
- (3) For a limited partnership that has made the election permitted by section 7-62-1104, the article so elected shall be the governing law for purposes of subsections (1) and (2) of this section. For a limited partnership that has not made the election permitted by section 7-62-1104, article 60 of this title shall be the governing law for purposes of subsections (1) and (2) of this section.
L. 81: Entire article added, p. 443, § 1, effective November 1. L. 83: Entire section amended, p. 400, § 1, effective May 23. L. 95: (2) amended, p. 788, § 14, effective May 24. L. 97: (3) added, p. 916, § 6, effective 1/1/1998. L. 2004: (2)(a)(II) and (2)(b)(II) amended, p. 1443, § 133, effective July 1.
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