Illinois Compiled Statutes 805 Business Organizations: Article 5 - Contributions and Distributions

• Illinois Uniform Limited Partnership Act (2001). - 805 ILCS 215, Section 501
  Form of contribution. A contribution of a partner may consist of tangible or intangible property or other benefit to the limited partnership, including money, services...
• Illinois Uniform Limited Partnership Act (2001). - 805 ILCS 215, Section 502
  Liability for contribution. (a) A partner's obligation to contribute money or other property or other benefit to, or to perform services for, a limited partnership...
• Illinois Uniform Limited Partnership Act (2001). - 805 ILCS 215, Section 503
  Sharing of distributions. A distribution by a limited partnership must be shared among the partners on the basis of the value, as stated in the...
• Illinois Uniform Limited Partnership Act (2001). - 805 ILCS 215, Section 504
  Interim distributions. A partner does not have a right to any distribution before the dissolution and winding up of the limited partnership unless the limited...
• Illinois Uniform Limited Partnership Act (2001). - 805 ILCS 215, Section 505
  No distribution on account of dissociation. A person does not have a right to receive a distribution on account of dissociation. (Source: P.A. 93-967, eff.
• Illinois Uniform Limited Partnership Act (2001). - 805 ILCS 215, Section 506
  Distribution in kind. A partner does not have a right to demand or receive any distribution from a limited partnership in any form other than...
• Illinois Uniform Limited Partnership Act (2001). - 805 ILCS 215, Section 507
  Right to distribution. When a partner or transferee becomes entitled to receive a distribution, the partner or transferee has the status of, and is entitled...
• Illinois Uniform Limited Partnership Act (2001). - 805 ILCS 215, Section 508
  Limitations on distribution. (a) A limited partnership may not make a distribution in violation of the partnership agreement. (b) A limited partnership may not make...
• Illinois Uniform Limited Partnership Act (2001). - 805 ILCS 215, Section 509
  Liability for improper distributions. (a) A general partner that consents to a distribution made in violation of Section 508 is personally liable to the limited...

Last modified: February 18, 2015