C.R.S. Section 7-62-608
Liability upon return of contribution

(1)

If a partner has received the return of any part of the partner’s contribution without violation of the partnership agreement or this article, the partner is liable to the limited partnership for a period of one year thereafter for the amount of the returned contribution, but only to the extent necessary to discharge the limited partnership’s liability to creditors who extended credit to the limited partnership during the period the contribution was held by the partnership.

(2)

If a partner has received the return of any part of the partner’s contribution in violation of the partnership agreement or this article, the partner is liable to the limited partnership for a period of three years thereafter for the amount of the contribution wrongfully returned.

(3)

A partner receives a return of the partner’s contribution to the extent that a distribution to the partner reduces the partner’s share of the fair value of the net assets of the limited partnership below the value, as stated in the partnership records required to be kept pursuant to section 7-62-105, of the partner’s contribution that has not been distributed to the partner.

Source: Section 7-62-608 — Liability upon return of contribution, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-07.­pdf (accessed Oct. 20, 2023).

7‑62‑101
Definitions 7‑62‑104.5
Registered agent - service of process 7‑62‑105
Records 7‑62‑106
Nature of business 7‑62‑107
Business transactions of partner with the partnership 7‑62‑110
Statute of frauds - applicability 7‑62‑201
Certificates - contents - filing with secretary of state 7‑62‑202
Amendment to certificate 7‑62‑203
Statement of dissolution 7‑62‑204
Approval of certificates 7‑62‑205
Presumptions 7‑62‑207
Liability for false statement in certificate 7‑62‑208
Notice of existence of limited partnership 7‑62‑301
Admission of limited partners 7‑62‑302
Voting 7‑62‑303
Liability to third parties 7‑62‑304
Person erroneously believing self to be a limited partner 7‑62‑305
Information and accounting 7‑62‑306
Time of admission 7‑62‑401
Admission of general partners 7‑62‑402
Events of withdrawal 7‑62‑403
General powers and liabilities 7‑62‑404
Contributions by a general partner 7‑62‑405
Voting 7‑62‑501
Form of contribution 7‑62‑502
Liability for contributions 7‑62‑503
Sharing of profits and losses 7‑62‑504
Sharing of distributions 7‑62‑601
Interim distributions 7‑62‑602
Withdrawal of general partner 7‑62‑603
Withdrawal of limited partner 7‑62‑604
Distribution upon withdrawal 7‑62‑605
Distribution in kind 7‑62‑606
Right to distribution 7‑62‑607
Limitations on distribution 7‑62‑608
Liability upon return of contribution 7‑62‑701
Nature of partnership interest 7‑62‑702
Assignment of partnership interest 7‑62‑703
Rights of creditor 7‑62‑704
Right of assignee to become limited partner 7‑62‑705
Deceased or incompetent individual partners - dissolved or terminated corporate partners 7‑62‑801
Dissolution - general rules 7‑62‑802
Judicial dissolution 7‑62‑803
Winding up 7‑62‑804
Distribution of assets 7‑62‑902
Authority to transact business or conduct activities required 7‑62‑903
Registered agent - service of process 7‑62‑1001
Right of action 7‑62‑1002
Expenses 7‑62‑1003
Security and costs 7‑62‑1101
Applicability 7‑62‑1102
Construction and application 7‑62‑1103
Provisions for existing limited partnerships 7‑62‑1104
Rules for cases not provided for in this article - registration as limited liability limited partnership 7‑62‑1105
Short title
Green check means up to date. Up to date

Current through Fall 2024

§ 7-62-608’s source at colorado​.gov