Colorado § 7-62-804 Distribution of assets

Colorado Statutes

§ 7-62-804 — Distribution of assets

Colorado·Title 07 Corporations·Art. Colorado Uniform Limited

(1)Upon the winding up of a limited partnership, the assets shall be distributed as follows:

(a)To creditors, including partners who are creditors, to the extent otherwise permitted by law, in satisfaction of liabilities of the limited partnership other than liabilities for distributions to partners under section 7-62-601 or 7-62-604;

(b)Except as provided in the partnership agreement, to partners and former partners in satisfaction of liabilities for distributions under section 7-62-601 or 7-62-604;

(c)Except as provided in the partnership agreement, to partners for the return of their contributions and respecting their partnership interests in the proportions in which the partners share in distributions.

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(1) Upon the winding up of a limited
partnership, the assets shall be distributed as follows:

(a) To creditors, including partners who are creditors, to the extent otherwise
permitted by law, in satisfaction of liabilities of the limited partnership other than
liabilities for distributions to partners under section 7-62-601 or 7-62-604;

(b) Except as provided in the partnership agreement, to partners and former
partners in satisfaction of liabilities for distributions under section 7-62-601 or 7-62-604;

(c) Except as provided in the partnership agreement, to partners for the
return of their contributions and respecting their partnership interests in the
proportions in which the partners share in distributions.

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