Colorado § 15-5-1011 - Interest as a general partner.
Full text of Colorado Colorado Revised Statutes § 15-5-1011 — Interest as a general partner., with citation guidance and answers to common questions.
§ 15-5-1011. Interest as a general partner.
(1) Except as provided in subsection (3) of this section, or unless personal liability is imposed in the contract, a trustee who holds an interest as a general partner in a general or limited partnership is not personally liable on a contract entered into by the partnership after the trust's acquisition of the interest if the fiduciary capacity was disclosed in the contract or in a statement previously filed pursuant to the "Colorado Uniform Partnership Act (1997)", article 64 of title 7, or the "Colorado Uniform Limited Partnership Act of 1981", article 62 of title 7.
(2) Except as otherwise provided in subsection (3) of this section, a trustee who holds an interest as a general partner is not personally liable for torts committed by the partnership or for obligations arising from ownership or control of the interest unless the trustee is personally at fault.
(3) The immunity provided by this section does not apply if an interest in the partnership is held by the trustee in a capacity other than that of trustee or is held by the trustee's spouse or one or more of the trustee's descendants, siblings, or parents, or the spouse of any of them.
(4) If the trustee of a revocable trust holds an interest as a general partner, the settlor is personally liable for contracts and other obligations of the partnership as if the settlor were a general partner.
Source: L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1187, § 1, effective January 1, 2019.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 15-5-1011
What does Colorado Revised Statutes § 15-5-1011 cover?
Section 15-5-1011 ("Interest as a general partner.") is part of the Colorado Revised Statutes, the codified statutory law of Colorado. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Colorado § 15-5-1011?
A common citation format is "Colorado Revised Statutes § 15-5-1011" (Colorado). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Colorado law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Colorado official source linked on this page or consult a licensed Colorado attorney.
How does Colorado § 15-5-1011 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Colorado can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Colorado.