Colorado § 7-60-132 Dissolution by decree of court

Colorado Statutes

§ 7-60-132 — Dissolution by decree of court

Colorado·Title 07 Corporations·Art. Uniform Partnership Law

(1)On application by or for a partner, the court shall decree a dissolution if:

(a)A partner has been determined by the court to be mentally incompetent to such a degree that the partner is incapable of performing the partner's part of the partnership contract or a court of competent jurisdiction has made such a finding pursuant to part 3 or part 4 of article 14 of title 15 or section 27-65-110 (4) or 27-65-127;

(b)A partner becomes in any other way incapable of performing the partner's part of the partnership contract;

(c)A partner has been guilty of such conduct as tends to affect prejudicially the carrying on of business;

(d)A partner willfully or persistently commits a breach of the partnership agreement or otherwise so acts in matters relating to the partnership busin

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(1) On application by or for a
partner, the court shall decree a dissolution if:

(a) A partner has been determined by the court to be mentally incompetent
to such a degree that the partner is incapable of performing the partner's part of
the partnership contract or a court of competent jurisdiction has made such a
finding pursuant to part 3 or part 4 of article 14 of title 15 or section 27-65-110 (4) or
27-65-127;

(b) A partner becomes in any other way incapable of performing the
partner's part of the partnership contract;

(c) A partner has been guilty of such conduct as tends to affect prejudicially
the carrying on of business;

(d) A partner willfully or persistently commits a breach of the partnership
agreement or otherwise so acts in matters relating to the partnership business that
it is not reasonably practicable to carry on the business in partnership with the
partner;

(e) The business of the partnership can only be carried on at a loss;

(f) Other circumstances render a dissolution equitable.

(2) On the application of the purchaser of a partner's interest under sections
7-60-127 and 7-60-128, the court shall decree a dissolution:

(a) After the termination of the stated term or particular undertaking;

(b) At any time if the partnership was a partnership at will when the interest
was assigned or when the charging order was issued.

Colorado § 7-60-132 (Dissolution by decree of court) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: L. 31: p. 662, � 32. CSA: C. 123, � 32. CRS 53: � 104-1-32. C.R.S. 1963: � 104-1-32. L. 75: (1)(a) R&RE, p. 922, � 7, effective July 1. L. 91: (1)(a) amended, p. 1781, � 4, effective July 1. L. 2003: (2)(a) amended, p. 2236, � 113, effective July 1, 2004. L. 2004: (1)(a), (1)(b), and (1)(d) amended, p. 1427, � 88, effective July 1. L. 2010: (1)(a) amended, (SB 10-175), ch. 188, p. 777, � 4, effective April 29. L. 2022: (1)(a) amended, (HB 22-1256), ch. 451, p. 3222, � 6, effective August 10.