Scope of article - choice of law - application to professions and occupations

7-60-154. Scope of article - choice of law - application to professions and occupations. (1) A partnership, including a limited liability partnership or limited liability limited partnership, may conduct its business, carry on its operations, and exercise the powers granted by this article within and without the state. (2) (a) It is the intent of the general assembly that the legal existence of limited liability partnerships and limited liability limited partnerships be recognized outside the boundaries of this state and that the law of this state governing the limited liability partnership or limited liability limited partnership transacting business outside this state be granted the protection of full faith and credit under section 1 of article IV of the constitution of the United States. (b) It is the intent of the general assembly that the internal affairs of a limited liability partnership or limited liability limited partnership formed in this state be subject to and governed by the law of this state, including the provisions governing liability of partners for debts, obligations, and liabilities chargeable to partnerships. (3) Nothing in this article shall be construed to permit a limited liability partnership to engage in a profession or occupation as described in title 12, C.R.S., for which there is a specific statutory provision applicable to the practice of such profession or occupation by a corporation or professional corporation in this state unless authorized under applicable provisions of title 12, C.R.S. Source: L. 95: Entire section added, p. 787, � 11, effective May 24. L. 2003: (2) amended, p. 2239, � 118, effective July 1, 2004. L. 2004: Entire section amended, p. 1435, � 107, effective July 1. ARTICLE 61 Uniform Limited Partnership Law of 1931 Cross references: For application of general partnership law to limited partnerships, see � 7-60-106; for the Colorado Uniform Limited Partnership Act of 1981, see article 62 of this title; for the Uniform Records Retention Act, see article 17 of title 6. Law reviews: For article, Trade Name Registration Requirements and Customs in Colorado -- Parts I and II, see 16 Colo. Law. 238 and 454 (1987); for article, Colorado Choice of Entity 1998, see 27 Colo. Law. 5 (June 1998); for article, Colorado Choice of Form of Organization and Structure 2001, see 30 Colo. Law. 11 (Oct. 2001); for article, Entity and Trade Name Registration: 2001 Update, see 30 Colo. Law. 81 (Oct. 2001); for article, Entity and Trade Name Registration: 2004 Update, see 34 Colo. Law. 11 (Jan. 2005).