A partner may not receive a distribution from a limited partnership to the extent that, after giving effect to the distribution, all liabilities of the limited partnership, other than liabilities to partners on account of their partnership interests, exceed the fair value of the partnership assets.
Source: L. 81: Entire article added, p. 445, § 1, effective November 1.
Cross references: For exclusions from the term "distribution" see §§ 7-60-146 (1) and 7-64-1004 (1).
Structure Colorado Code
Title 7 - Corporations and Associations
Article 62 - Colorado Uniform Limited Partnership Act of 1981
Part 6 - Distributions and Withdrawal
§ 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