Colorado § 7-64-1205 Applicability

Colorado Statutes

§ 7-64-1205 — Applicability

Colorado·Title 07 Corporations·Art. Colorado Uniform Partnership Act (1997)

(1)This article governs only a partnership formed:

(a)After January 1, 1998, unless that partnership is continuing the business of a partnership that has dissolved under section 7-60-141; and

(b)Before January 1, 1998, that elects, as provided by subsection (2) of this section, to be governed by this article.

(2)A partnership voluntarily may elect, in the manner provided in its partnership agreement or by law for amending the partnership agreement, to be governed by this article. The provisions of this article relating to the liability of the partnership's partners to third parties apply to limit those partners' liability to a third party who had done business with the partnership within one year preceding the partnership's election to be governed by this article, only if the

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(1) This article governs only a partnership formed:

(a) After January 1, 1998, unless that partnership is continuing the business
of a partnership that has dissolved under section 7-60-141; and

(b) Before January 1, 1998, that elects, as provided by subsection (2) of this
section, to be governed by this article.

(2) A partnership voluntarily may elect, in the manner provided in its
partnership agreement or by law for amending the partnership agreement, to be
governed by this article. The provisions of this article relating to the liability of the
partnership's partners to third parties apply to limit those partners' liability to a
third party who had done business with the partnership within one year preceding
the partnership's election to be governed by this article, only if the third party has
notice of the partnership's election to be governed by this article.

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