Colo. Rev. Stat. § 7-62-403
General powers and liabilities
Colorado · Colorado Revised Statutes Title 7 — Corporations and Associations · Status: effective
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- Citation
- Colo. Rev. Stat. § 7-62-403, General powers and liabilities, Colorado, version 1 as recorded 2026-10-03, yourstate.us, https://yourstate.us/provision/2285243
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Full text
(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.
(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.