{"data":{"id":"us-co/c.r.s.-7-64-202","jurisdiction":"us-co","citation":"C.R.S. § 7-64-202","heading":"Formation of partnership.","body":"(1) Except as otherwise provided in subsection (2) of this section, the association of two or more persons to carry on as co-owners a business for profit forms a partnership, whether or not the persons intend to form a partnership. A limited liability partnership is for all purposes a partnership.\n\n(2) Subject to section 7-64-1205, an association is not a partnership under this article if it is formed under a statute other than:\n\n(a) This article;\n\n(b) Article 60 of this title; or\n\n(c) A comparable statute of another jurisdiction. A partnership that is subject to article 60 of this title by reason of the first sentence of subsection (2) of section 7-60-106 shall be deemed to be formed under article 60 for purposes of this subsection (2).\n\n(3) In determining whether a partnership is formed, the following rules apply:\n\n(a) Joint tenancy, tenancy in common, tenancy by the entireties, joint property, common property, or part ownership does not by itself establish a partnership, even if the co-owners share profits made by the use of the property.\n\n(b) The sharing of gross returns does not by itself establish a partnership, even if the persons sharing them have a joint or common right or interest in property from which the returns are derived.\n\n(c) A person who receives a share of the profits of a business is presumed to be a partner in the business, unless the profits were received in payment:\n\n(I) Of a debt by installments or otherwise;\n\n(II) For services as an independent contractor or of wages or other compensation to an employee;\n\n(III) Of rent;\n\n(IV) Of an annuity or other retirement or health benefit to a beneficiary, representative, or designee of a deceased or retired partner;\n\n(V) Of interest or other charge on a loan, even if the amount of payment varies with the profits of the business, including a direct or indirect present or future ownership of the collateral or rights to income, proceeds, or increase in value derived from the collateral; or\n\n(VI) For the sale of the goodwill of a business or other property by installments or otherwise.","path":["Title 7 - CORPORATIONS AND ASSOCIATIONS","Article 64 - Colorado Uniform Partnership Act (1997)","Part 2 - NATURE OF PARTNERSHIP"],"source_url":"https://olls.info/crs/crs2026-title-07.htm","current_through":"Colorado Revised Statutes 2026","vintage":"","retrieved_at":"2026-09-14T18:37:45Z","sha256":"914bedf121c4ccd40089ca168ebbb2c4f757b337e25866db6fb64f3f1cfdf73d","source_id":"us-co","stale":false,"prev":"us-co/c.r.s.-7-64-201","next":"us-co/c.r.s.-7-64-203"},"notice":"GroundRules: Original legal text. Not legal advice."}