Colorado § 7-64-702 - Dissociated partner's power to bind and liability to partnership.
Full text of Colorado Colorado Revised Statutes § 7-64-702 — Dissociated partner's power to bind and liability to partnership., with citation guidance and answers to common questions.
§ 7-64-702. Dissociated partner's power to bind and liability to partnership.
(1) For two years after a partner dissociates without resulting in a dissolution and winding up of the partnership business, the partnership, including a surviving partnership under part 2 of article 90 of this title, is bound by an act of the dissociated partner that would have bound the partnership under section 7-64-301 before dissociation only if at the time of entering into the transaction the other party:
(a) Reasonably believed that the dissociated partner was then a partner; and
(b) Did not have notice of the partner's dissociation.
(2) A dissociated partner is liable to the partnership for any damage caused to the partnership arising from an obligation incurred by the dissociated partner after dissociation for which the partnership is liable under subsection (1) of this section.
Source: L. 97: Entire article added, p. 889, § 1, effective January 1, 1998. L. 2003: IP(1) amended, p. 2253, § 157, effective July 1, 2004.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 7-64-702
What does Colorado Revised Statutes § 7-64-702 cover?
Section 7-64-702 ("Dissociated partner's power to bind and liability to partnership.") 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 § 7-64-702?
A common citation format is "Colorado Revised Statutes § 7-64-702" (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 § 7-64-702 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.