Colorado § 7-64-803 - Right to wind up partnership business.
Full text of Colorado Colorado Revised Statutes § 7-64-803 — Right to wind up partnership business., with citation guidance and answers to common questions.
§ 7-64-803. Right to wind up partnership business.
(1) After dissolution, a partner who has not wrongfully dissociated may participate in winding up the partnership's business, but on application of any partner, partner's legal representative, or transferee, the district court, for good cause shown, may order judicial supervision of the winding up.
(2) The legal representative of the last surviving partner may wind up a partnership's business.
(3) A person winding up a partnership's business may preserve the partnership business or property as a going concern for a reasonable time, prosecute and defend actions and proceedings, whether civil, criminal, or administrative, settle disputes, settle and close the partnership's business, dispose of and transfer the partnership's property, discharge or provide for the partnership obligations, distribute the assets of the partnership pursuant to section 7-64-807, and perform other necessary acts.
Source: L. 97: Entire article added, p. 892, § 1, effective January 1, 1998.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 7-64-803
What does Colorado Revised Statutes § 7-64-803 cover?
Section 7-64-803 ("Right to wind up partnership business.") 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 § 7-64-803?
A common citation format is "Colorado Revised Statutes § 7-64-803" (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 § 7-64-803 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.