Colorado § 7-62-502 Liability for contributions

Colorado Statutes

§ 7-62-502 — Liability for contributions

Colorado § 7-62-502

Title 07Corporations

Art.Colorado Uniform Limited

This text of Colorado § 7-62-502 (Liability for contributions) is published on Counsel Stack Legal Research, covering Colorado primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Colo. Rev. Stat. § 7-62-502 (2026).

Text

(1)Except as provided in the partnership agreement, a partner is obligated to the limited partnership to perform any enforceable promise to contribute cash or property or to perform services, even if the partner is unable to perform because of death, disability, or any other reason. If a partner does not make the required contribution of property or services, the partner is obligated at the option of the limited partnership to contribute cash equal to that portion of the value, as stated in the partnership records required to be kept by section 7-62-105, of the stated contribution that has not been made.

(2)Unless otherwise provided in the partnership agreement, the obligation of a partner to make a contribution or return money or other property paid or distributed in violation

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(1) Except as provided in the
partnership agreement, a partner is obligated to the limited partnership to perform
any enforceable promise to contribute cash or property or to perform services, even
if the partner is unable to perform because of death, disability, or any other reason.
If a partner does not make the required contribution of property or services, the
partner is obligated at the option of the limited partnership to contribute cash equal
to that portion of the value, as stated in the partnership records required to be kept
by section 7-62-105, of the stated contribution that has not been made.

(2) Unless otherwise provided in the partnership agreement, the obligation of
a partner to make a contribution or return money or other property paid or
distributed in violation of this article may be compromised only by consent in
writing of all the partners. Notwithstanding the compromise, a creditor of a limited
partnership who extends credit or otherwise acts in reliance on the original
obligation may enforce the original obligation.

(3) No promise by a limited partner to contribute to the limited partnership is
enforceable unless set out in a writing signed by the limited partner.

Legislative History

Source: L. 81: Entire article added, p. 443, � 1, effective November 1. L. 86: Entire section amended, p. 455, � 22, effective July 1. L. 2004: (1) amended, p. 1444, � 135, effective July 1.