Colorado § 7-62-304 - Person erroneously believing self to be a limited partner.
Full text of Colorado Colorado Revised Statutes § 7-62-304 — Person erroneously believing self to be a limited partner., with citation guidance and answers to common questions.
§ 7-62-304. Person erroneously believing self to be a limited partner.
(1) Except as provided in subsection (2) of this section, a person who makes a contribution to a business enterprise and erroneously, but in good faith, believes that the person has become a limited partner in the enterprise is not a general partner in the enterprise and is not bound by its obligations by reason of making the contribution, receiving distributions from the enterprise, or exercising any rights of a limited partner, if, on ascertaining the mistake, the person causes an appropriate certificate of limited partnership or a certificate of amendment to be delivered to the secretary of state, for filing pursuant to part 3 of article 90 of this title.
(2) A person who makes a contribution of the kind described in subsection (1) of this section is liable as a general partner to any third party who transacts business with the enterprise before an appropriate certificate is filed in the records of the secretary of state to show that the person is not a general partner, but only if the third party actually believed in good faith that the person was a general partner at the time of the transaction.
Source: L. 81: Entire article added, p. 441, § 1, effective November 1. L. 86: (2) amended, p. 454, § 17, effective July 1. L. 2002: (1) amended, p. 1823, § 44, effective July 1; (1) amended, p. 1687, § 42, effective October 1. L. 2003: Entire section amended, p. 2245, § 135, effective July 1, 2004. L. 2004: Entire section amended, p. 1442, § 131, effective July 1.
ANNOTATION
Law reviews. For article, "Limited Partnership Act Update", see 11 Colo. Law. 688 (1982). For comment, "The Colorado Changes to the Revised Uniform Limited Partnership Act", see 53 U. Colo. L. Rev. 823 (1982).
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 7-62-304
What does Colorado Revised Statutes § 7-62-304 cover?
Section 7-62-304 ("Person erroneously believing self to be a limited 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 § 7-62-304?
A common citation format is "Colorado Revised Statutes § 7-62-304" (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 § 7-62-304 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.