C.R.S. Section 7-61-124
Distribution of assets

(1)

In settling accounts after dissolution, the liabilities of the partnership shall be entitled to payment in the following order:

(a)

Those to creditors, in the order of priority as provided by law, except those to limited partners on account of their contributions and to general partners;

(b)

Those to limited partners in respect to their share of the profits and other compensation by way of income on their contributions;

(c)

Those to limited partners in respect to the capital of their contributions;

(d)

Those to general partners other than for capital and profits;

(e)

Those to general partners in respect to profits;

(f)

Those to general partners in respect to capital.

(2)

Subject to any statement in the certificate or to subsequent agreement, limited partners share in the partnership assets in respect to their claims for capital and in respect to their claims for profits or for compensation by way of income on their contributions respectively, in proportion to the respective amounts of such claims.

Source: Section 7-61-124 — Distribution of assets, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-07.­pdf (accessed Oct. 20, 2023).

7‑61‑101
Short title 7‑61‑102
Definitions 7‑61‑103
Formation 7‑61‑104
Business which may be carried on 7‑61‑105
Limited partner’s contribution 7‑61‑106
Name not to contain surname of limited partner - exceptions 7‑61‑107
Liability for false statement in certificate 7‑61‑108
Limited partner not liable to creditors - when 7‑61‑109
Admission of additional limited partners 7‑61‑110
General partner - rights - liabilities 7‑61‑111
Rights of a limited partner 7‑61‑112
Status of person erroneously believing self to be a limited partner 7‑61‑113
One person both general and limited partner 7‑61‑114
Transactions with limited partner 7‑61‑115
Relation of limited partners inter se 7‑61‑116
Compensation of limited partner 7‑61‑117
Withdrawal or reduction of limited partner’s contribution 7‑61‑118
Liability of limited partner to partnership 7‑61‑119
Nature of limited partner’s interest 7‑61‑120
Assignment of limited partner’s interest 7‑61‑121
Effect of retirement, death, or insanity of a general partner 7‑61‑122
Death of limited partner 7‑61‑123
Rights of creditors of limited partner 7‑61‑124
Distribution of assets 7‑61‑125
When certificate shall be canceled or amended 7‑61‑126
Requirements for amendment and for cancellation of certificate 7‑61‑127
Parties to actions 7‑61‑128
Rules of construction 7‑61‑129
Law governing cases not covered 7‑61‑129.5
Applicability 7‑61‑130
Provisions for existing limited partnerships
Green check means up to date. Up to date

Current through Fall 2024

§ 7-61-124’s source at colorado​.gov