Colorado § 7-61-102 - Definitions.
Full text of Colorado Colorado Revised Statutes § 7-61-102 — Definitions., with citation guidance and answers to common questions.
§ 7-61-102. Definitions.
As used in this article, unless the context otherwise requires:
(1) "Limited partnership" means a partnership formed by two or more persons, under the provisions of section 7-61-103, having as members one or more general partners and one or more limited partners. The limited partners as such shall not be bound by the obligations of the partnership.
(2) "Member" means a general partner or a limited partner.
Source: L. 31: p. 626, § 1. CSA: C. 123, § 44. CRS 53: § 104-2-1. C.R.S. 1963: § 104-2-1. L. 2004: Entire section amended, p. 1435, § 108, effective July 1.
Cross references: For additional definitions applicable to this article, see § 7-90-102.
ANNOTATION
Law reviews. For article, "One Year Review of Corporations, Partnership, and Agency", see 37 Dicta 11 (1960).
That a limited partnership was discussed by members of a partnership during its formative period but that the parties thereafter entered into a general partnership by articles signed by all the parties is insufficient to establish a claim of limited partnership. Baumgartner v. Tweedy, 143 Colo. 556, 354 P.2d 586 (1960).
The article on limited partnerships does not have a comparable or parallel provision to § 7-60-108 dealing with partnership property. Wise v. Nu-Tone Prods. Co., 148 Colo. 574, 367 P.2d 346 (1961).
Limited partnerships cannot exist without general partners. Skeen v. Harms, 10 B.R. 817 (Bankr. D. Colo. 1981).
Applied in Frazier v. Carlin, 42 Colo. App. 226, 591 P.2d 1348 (1979).
Frequently Asked Questions About Colorado § 7-61-102
What does Colorado Revised Statutes § 7-61-102 cover?
Section 7-61-102 ("Definitions.") 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 § 7-61-102?
A common citation format is "Colorado Revised Statutes § 7-61-102" (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 § 7-61-102 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
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