Colorado Revised Statutes
Colo. Rev. Stat. § 7-60-117 (2024)
Liability of incoming partner
✓ C.R.S. 2024: the 2025 and 2026 sessions are not included
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A person admitted as a partner into an existing partnership is liable for all the obligations of the partnership arising before such admission as though the person had been a partner when such obligations were incurred; except that this liability shall be satisfied only out of partnership property.
Source: L. 31: p. 654, § 17. CSA: C. 123, § 17. CRS 53: § 104-1-17. C.R.S. 1963: § 104-1-17. L. 2004: Entire section amended, p. 1425, § 79, effective July 1.
Notes of Decisions
Cited in 1
case, 1993–1993 · leading case: Resolution Trust Corp. v. Teem P'ship, 835 F. Supp. 563 (D. Colo. 1993).
Resolution Trust Corp. v. Teem P'ship, 835 F. Supp. 563 (D. Colo. 1993). “Relying on § 7-60-117, C.R.S., Clark alternatively moves for partial summary judgment asserting that at most, he is liable only for the increased loan amount under the note modification agreement, plus any additional interest attributable to that increase.”
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