All persons who assume to act as a limited liability company without authority to do so and without good-faith belief that they have such authority shall be jointly and severally liable for all debts and liabilities incurred by such persons so acting.
Source: L. 90: Entire article added, p. 416, § 1, effective April 18.
Structure Colorado Code
Title 7 - Corporations and Associations
Article 80 - Limited Liability Companies
Part 1 - Definition and Application
§ 7-80-103. Nature of Business
§ 7-80-105. Unauthorized Assumption of Powers
§ 7-80-106. Transaction of Business Outside State
§ 7-80-107. Application of Corporation Case Law to Set Aside Limited Liability
§ 7-80-108. Effect of Operating Agreement - Nonwaivable Provisions - Statute of Frauds