Colorado § 7-60-115 Nature of partner's liability

Colorado Statutes

§ 7-60-115 — Nature of partner's liability

Colorado § 7-60-115

Title 07Corporations

Art.Uniform Partnership Law

This text of Colorado § 7-60-115 (Nature of partner's liability) 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. § 7-60-115 (2026).

Text

(1)Except as otherwise provided in subsection (2) of this section, all partners are liable:

(a)Jointly and severally for everything chargeable to the partnership under sections 7-60-113 and 7-60-114;

(b)Jointly and severally for all other debts and obligations of the partnership, but any partner may enter into a separate obligation to perform a partnership contract.

(2)(a) Except as otherwise provided in the partnership agreement, partners in a limited liability partnership are not liable directly or indirectly, including by way of indemnification, contribution, or otherwise, under a judgment, decree, or order of a court, or in any other manner, for a debt, obligation, or liability of or chargeable to the partnership while it is a limited liability partnership; except that t

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(1) Except as otherwise provided in
subsection (2) of this section, all partners are liable:

(a) Jointly and severally for everything chargeable to the partnership under
sections 7-60-113 and 7-60-114;

(b) Jointly and severally for all other debts and obligations of the
partnership, but any partner may enter into a separate obligation to perform a
partnership contract.

(2) (a) Except as otherwise provided in the partnership agreement, partners
in a limited liability partnership are not liable directly or indirectly, including by way
of indemnification, contribution, or otherwise, under a judgment, decree, or order of
a court, or in any other manner, for a debt, obligation, or liability of or chargeable to
the partnership while it is a limited liability partnership; except that this subsection
(2) shall not affect the liability of a partner in a limited liability partnership for such
partner's own negligence, wrongful acts, or misconduct.

(b) Partners in a limited liability partnership do not become liable, directly or
indirectly, for debts, obligations, or liabilities incurred while the partnership was a
limited liability partnership merely because the partnership ceases to be a limited
liability partnership.

Legislative History

Source: L. 31: p. 652, � 15. CSA: C. 123, � 15. CRS 53: � 104-1-15. C.R.S. 1963: � 104-1-15. L. 73: p. 1082, � 1. L. 95: Entire section amended, p. 778, � 3, effective May 24. L. 2004: (2) amended, p. 1423, � 77, effective July 1.