Illinois Compiled Statutes 805 ILCS 215 Uniform Limited Partnership Act (2001). Section 1102

    (805 ILCS 215/1102)

    Sec. 1102. Conversion.

    (a) An organization other than a limited partnership may convert to a limited partnership, and a limited partnership may convert to another organization pursuant to this Section and Sections 1103 through 1105 and a plan of conversion, if:

        (1) the other organization's governing statute

    authorizes the conversion;

        (2) the conversion is not prohibited by the law of

    the jurisdiction that enacted the governing statute; and

        (3) the other organization complies with its

    governing statute in effecting the conversion.

    (b) A plan of conversion must be in a record and must include:

        (1) the name and form of the organization before


        (2) the name and form of the organization after

    conversion; and

        (3) the terms and conditions of the conversion,

    including the manner and basis for converting interests in the converting organization into any combination of money, interests in the converted organization, and other consideration; and

        (4) the organizational documents of the converted


(Source: P.A. 93-967, eff. 1-1-05.)

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Last modified: February 18, 2015