Colorado § 7-61-105 - Limited partner's contribution.
Full text of Colorado Colorado Revised Statutes § 7-61-105 — Limited partner's contribution., with citation guidance and answers to common questions.
§ 7-61-105. Limited partner's contribution.
The contributions of a limited partner may be cash or other property but not services.
Source: L. 31: p. 628, § 4. CSA: C. 123, § 47. CRS 53: § 104-2-4. C.R.S. 1963: § 104-2-4.
ANNOTATION
Law reviews. For comment on Silvola v. Rowlett (cited below ), see 27 Rocky Mt. L. Rev. 98 (1954). For article, "A Law Firm Pension Plan?", see 37 Dicta 351 (1960).
The word "contributions" as it is used in this section is limited to the contribution to be made by the limited partner at the time of the formation of the partnership for the benefit of the partnership's creditors, as there is a clear general purpose and intent by the general assembly to encourage trade by authorizing and permitting a capitalist to put his money into a partnership with general partners possessed of skill and business character only without becoming a general partner or hazarding anything in the business except the capital originally subscribed. Silvola v. Rowlett, 129 Colo. 522, 272 P.2d 287 (1954).
And services rendered by a limited partner after the formation of a limited partnership are not included in the "contributions" as that term is used in the section. Silvola v. Rowlett, 129 Colo. 522, 272 P.2d 287 (1954).
Hence, services rendered by a limited partner in the operation of a partnership does not deprive him of protection as a limited partner, for the fact that he is interested in the success thereof to the extent of rendering services does not, in and of itself, violate the provisions of this section nor does that alone charge him with liability of a general partner. Silvola v. Rowlett, 129 Colo. 522, 272 P.2d 287 (1954).
Frequently Asked Questions About Colorado § 7-61-105
What does Colorado Revised Statutes § 7-61-105 cover?
Section 7-61-105 ("Limited partner's contribution.") 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 § 7-61-105?
A common citation format is "Colorado Revised Statutes § 7-61-105" (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 § 7-61-105 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.