Colorado Revised Statutes Title 7. Corporations and Associations § 7-60-142. Rights of retiring partner

Welcome to FindLaw's Cases & Codes, a free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.

When any partner retires or dies and the business is continued under any of the conditions set forth in section 7-60-141(1) , (2) , (3) , (5) , and (6) , or in section 7-60-138(2)(b) , without any settlement of accounts as between the partner or the partner's estate and the person or partnership continuing the business, unless otherwise agreed, the partner or the partner's legal representative as against such persons or partnership may have the value of the partner's interest at the date of dissolution ascertained and shall receive as an ordinary creditor an amount equal to such value with interest, or, at the partner's option or at the option of the partner's legal representative in lieu of interest, the profits attributable to the use of the partner's right in the property of the dissolved partnership;  except that the creditors of the dissolved partnership as against the separate creditors, or the representative of the retired or deceased partner, shall have priority on any claim arising under this section as provided by section 7-60-141(8) .

Cite this article: FindLaw.com - Colorado Revised Statutes Title 7. Corporations and Associations § 7-60-142. Rights of retiring partner - last updated January 01, 2019 | https://codes.findlaw.com/co/title-7-corporations-and-associations/co-rev-st-sect-7-60-142.html


FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.

Copied to clipboard