Colorado § 7-62-403 General powers and liabilities

Colorado Statutes

§ 7-62-403 — General powers and liabilities

Colorado·Title 07 Corporations·Art. Colorado Uniform Limited

(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 l

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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.

(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.

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Legislative History

Source: 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 January 1, 1998. L. 2004: (2)(a)(II) and (2)(b)(II) amended, p. 1443, � 133, effective July 1.