§ 7-64-102 — Knowledge and notice

Colorado § 7-64-102

• Jurisdiction: Colorado
• Title 07: Corporations
• Art.: Colorado Uniform Partnership Act (1997)

Text

(1) A person knows or has knowledge of a
fact if the person has conscious awareness of the fact.

(2) A person has notice of a fact:

(a) If the person knows of the fact;

(b) If the person has received a notification of the fact;

(c) If the person has reason to know the fact exists from all of the facts
known to the person at the time in question; or

(d) By reason of a filing or recording to the extent provided by and subject to
limitations set forth in section 7-64-303 (4) and (5), 7-64-704 (3), or 7-64-805 (3).

(3) A person notifies or gives a notification to another by taking steps
reasonably appropriate to inform the other person in ordinary course, whether or
not the other person thereby obtains knowledge of the fact.

(4) A person receives a notification when the notification:

(a) Comes to the person's attention; or

(b) Is received at the person's place of business or at any other place held
out by the person as a place for receiving communications, or is received by a
person who is apparently authorized to receive the notification; or

(c) Has been given and the circumstances are such that it is fair and
reasonable, as against the person to whom such notice has been given, to treat the
notice as having been received.

(5) Except as otherwise provided in subsection (6) of this section, a person
other than an individual knows, has notice, or receives a notification of a fact for
purposes of a particular transaction when an individual conducting the transaction
on that person's behalf knows, has notice, or receives a notification of the fact, or in
any event when the fact would have been brought to such an individual's attention
if the person had exercised reasonable diligence. The person exercises reasonable
diligence if the person maintains reasonable routines for communicating significant
information to an individual conducting the transaction on the person's behalf and
there is reasonable compliance with the routines. Reasonable diligence does not
require an individual acting for the person to communicate information unless the
communication is part of the individual's regular duties or the individual has reason
to know of the transaction and that the transaction would be materially affected by
the information.

(6) A partner's knowledge, notice, or receipt of a notification of a fact
relating to the partnership is effective immediately as knowledge by, notice to, or
receipt of a notification by the partnership, except in the case of a fraud on the
partnership committed by or with the consent of that partner.

Legislative History

Source: L. 97: Entire article added, p. 869, � 1, effective January 1, 1998.