reglab/housing_qa huggingface dataset:
805 ILCS 215/302
2021 Illinois Compiled Statutes|Chapter 805 - BUSINESS ORGANIZATIONS|805 ILCS 215/ - Uniform Limited Partnership Act (2001).|Article 3 - Limited Partners

Sec. 302. No right or power as limited partner to bind limited partnership. A limited partner does not have the right or the power as a limited partner to act for or bind the limited partnership.    (Source: P.A. 93-967, eff. 1-1-05.)
805 ILCS 215/303
2021 Illinois Compiled Statutes|Chapter 805 - BUSINESS ORGANIZATIONS|805 ILCS 215/ - Uniform Limited Partnership Act (2001).|Article 3 - Limited Partners

Sec. 303. No liability as limited partner for limited partnership obligation. An obligation of a limited partnership, whether arising in contract, tort, or otherwise, is not the obligation of a limited partner. A limited partner is not personally liable, directly or indirectly, by way of contribution or otherwise, for an obligation of the limited partnership solely by reason of being a limited partner, even if the limited partner participates in the management and control of the limited partnership.    (Source: P.A. 93-967, eff. 1-1-05.)
805 ILCS 215/305
2021 Illinois Compiled Statutes|Chapter 805 - BUSINESS ORGANIZATIONS|805 ILCS 215/ - Uniform Limited Partnership Act (2001).|Article 3 - Limited Partners

Sec. 305. Limited duties of limited partners.(a) A limited partner does not have any fiduciary duty to the limited partnership or to any other partner solely by reason of being a limited partner.(b) A limited partner shall discharge the duties to the partnership and the other partners under this Act or under the partnership agreement and exercise any rights consistently with the obligation of good faith and fair dealing.(c) A limited partner does not violate a duty or obligation under this Act or under the partnership agreement merely because the limited partner's conduct furthers the limited partner's own interest.(Source: P.A. 93-967, eff. 1-1-05.)
805 ILCS 215/306
2021 Illinois Compiled Statutes|Chapter 805 - BUSINESS ORGANIZATIONS|805 ILCS 215/ - Uniform Limited Partnership Act (2001).|Article 3 - Limited Partners

(805 ILCS 215/306)Sec. 306. Person erroneously believing self to be limited partner.(a) Except as otherwise provided in subsection (b), a person that makes an investment in a business enterprise and erroneously but in good faith believes that the person has become a limited partner in the enterprise is not liable for the enterprise's obligations by reason of making the investment, receiving distributions from the enterprise, or exercising any rights of or appropriate to a limited partner, if, on ascertaining the mistake, the person:(1) causes an appropriate certificate of limited     partnership, amendment, or statement of correction to be signed and delivered to the Secretary of State for filing; or(2) withdraws from future participation as an owner     in the enterprise by signing and delivering to the Secretary of State for filing a statement of withdrawal under this Section.(b) A person that makes an investment described in subsection (a) is liable to the same extent as a general partner to any third party that enters into a transaction with the enterprise, believing in good faith that the person is a general partner, before the Secretary of State files a statement of withdrawal, certificate of limited partnership, amendment, or statement of correction to show that the person is not a general partner.(c) If a person makes a diligent effort in good faith to comply with subsection (a)(1) and is unable to cause the appropriate certificate of limited partnership, amendment, or statement of correction to be signed and delivered to the Secretary of State for filing, the person has the right to withdraw from the enterprise pursuant to subsection (a)(2) even if the withdrawal would otherwise breach an agreement with others that are or have agreed to become co-owners of the enterprise.(Source: P.A. 93-967, eff. 1-1-05.)
805 ILCS 215/Art. 4 heading
2021 Illinois Compiled Statutes|Chapter 805 - BUSINESS ORGANIZATIONS|805 ILCS 215/ - Uniform Limited Partnership Act (2001).|Article 4 - General Partners

   ARTICLE 4  GENERAL PARTNERS    (Source: P.A. 93-967, eff. 1-1-05.)
805 ILCS 215/401
2021 Illinois Compiled Statutes|Chapter 805 - BUSINESS ORGANIZATIONS|805 ILCS 215/ - Uniform Limited Partnership Act (2001).|Article 4 - General Partners

Sec. 401. Becoming general partner. A person becomes a general partner:(1) as provided in the partnership agreement;(2) under Section 801(3)(B) following the     dissociation of a limited partnership's last general partner;(3) as the result of a conversion or merger under     Article 11; or(4) with the consent of all the partners.(Source: P.A. 93-967, eff. 1-1-05.)
805 ILCS 215/402
2021 Illinois Compiled Statutes|Chapter 805 - BUSINESS ORGANIZATIONS|805 ILCS 215/ - Uniform Limited Partnership Act (2001).|Article 4 - General Partners

Sec. 402. General partner agent of limited partnership.(a) Each general partner is an agent of the limited partnership for the purposes of its activities. An act of a general partner, including the signing of a record in the partnership's name, for apparently carrying on in the ordinary course the limited partnership's activities or activities of the kind carried on by the limited partnership binds the limited partnership, unless the general partner did not have authority to act for the limited partnership in the particular matter and the person with which the general partner was dealing knew, had received a notification, or had notice under Section 103(d) that the general partner lacked authority.(b) An act of a general partner which is not apparently for carrying on in the ordinary course the limited partnership's activities or activities of the kind carried on by the limited partnership binds the limited partnership only if the act was actually authorized by all the other partners.(Source: P.A. 93-967, eff. 1-1-05.)
805 ILCS 215/403
2021 Illinois Compiled Statutes|Chapter 805 - BUSINESS ORGANIZATIONS|805 ILCS 215/ - Uniform Limited Partnership Act (2001).|Article 4 - General Partners

Sec. 403. Limited partnership liable for general partner's actionable conduct.(a) A limited partnership is liable for loss or injury caused to a person, or for a penalty incurred, as a result of a wrongful act or omission, or other actionable conduct, of a general partner acting in the ordinary course of activities of the limited partnership or with authority of the limited partnership.(b) If, in the course of the limited partnership's activities or while acting with authority of the limited partnership, a general partner receives or causes the limited partnership to receive money or property of a person not a partner, and the money or property is misapplied by a general partner, the limited partnership is liable for the loss.(Source: P.A. 93-967, eff. 1-1-05.)
805 ILCS 215/404
2021 Illinois Compiled Statutes|Chapter 805 - BUSINESS ORGANIZATIONS|805 ILCS 215/ - Uniform Limited Partnership Act (2001).|Article 4 - General Partners

Sec. 404. General partner's liability.(a) Except as otherwise provided in subsections (b) and (c), all general partners are liable jointly and severally for all obligations of the limited partnership unless otherwise agreed by the claimant or provided by law.(b) A person that becomes a general partner of an existing limited partnership is not personally liable for an obligation of a limited partnership incurred before the person became a general partner.(c) An obligation of a limited partnership incurred while the limited partnership is a limited liability limited partnership, whether arising in contract, tort, or otherwise, is solely the obligation of the limited partnership. A general partner is not personally liable, directly or indirectly, by way of contribution or otherwise, for such an obligation solely by reason of being or acting as a general partner. This subsection applies despite anything inconsistent in the partnership agreement that existed immediately before the consent required to become a limited liability limited partnership under Section 406(b)(2).(Source: P.A. 93-967, eff. 1-1-05.)
805 ILCS 215/405
2021 Illinois Compiled Statutes|Chapter 805 - BUSINESS ORGANIZATIONS|805 ILCS 215/ - Uniform Limited Partnership Act (2001).|Article 4 - General Partners

Sec. 405. Actions by and against partnership and partners.(a) To the extent not inconsistent with Section 404, a general partner may be joined in an action against the limited partnership or named in a separate action.(b) A judgment against a limited partnership is not by itself a judgment against a general partner. A judgment against a limited partnership may not be satisfied from a general partner's assets unless there is also a judgment against the general partner.(c) A judgment creditor of a general partner may not levy execution against the assets of the general partner to satisfy a judgment based on a claim against the limited partnership, unless the partner is personally liable for the claim under Section 404 and:(1) a judgment based on the same claim has been     obtained against the limited partnership and a writ of execution on the judgment has been returned unsatisfied in whole or in part;(2) the limited partnership is a debtor in bankruptcy;(3) the general partner has agreed that the creditor     need not exhaust limited partnership assets;(4) a court grants permission to the judgment     creditor to levy execution against the assets of a general partner based on a finding that limited partnership assets subject to execution are clearly insufficient to satisfy the judgment, that exhaustion of limited partnership assets is excessively burdensome, or that the grant of permission is an appropriate exercise of the court's equitable powers; or(5) liability is imposed on the general partner by     law or contract independent of the existence of the limited partnership.     (Source: P.A. 93-967, eff. 1-1-05.)
805 ILCS 215/406
2021 Illinois Compiled Statutes|Chapter 805 - BUSINESS ORGANIZATIONS|805 ILCS 215/ - Uniform Limited Partnership Act (2001).|Article 4 - General Partners

Sec. 406. Management rights of general partner.(a) Each general partner has equal rights in the management and conduct of the limited partnership's activities. Except as expressly provided in this Act, any matter relating to the activities of the limited partnership may be exclusively decided by the general partner or, if there is more than one general partner, by a majority of the general partners.(b) The consent of each partner is necessary to:(1) amend the partnership agreement;(2) amend the certificate of limited partnership to     add or, subject to Section 1110, delete a statement that the limited partnership is a limited liability limited partnership; and(3) sell, lease, exchange, or otherwise dispose of     all, or substantially all, of the limited partnership's property, with or without the good will, other than in the usual and regular course of the limited partnership's activities.(c) A limited partnership shall reimburse a general partner for payments made and indemnify a general partner for liabilities incurred by the general partner in the ordinary course of the activities of the partnership or for the preservation of its activities or property.(d) A limited partnership shall reimburse a general partner for an advance to the limited partnership beyond the amount of capital the general partner agreed to contribute.(e) A payment or advance made by a general partner which gives rise to an obligation of the limited partnership under subsection (c) or (d) constitutes a loan to the limited partnership which accrues interest from the date of the payment or advance.(f) A general partner is not entitled to remuneration for services performed for the partnership.(Source: P.A. 93-967, eff. 1-1-05.)
805 ILCS 215/407
2021 Illinois Compiled Statutes|Chapter 805 - BUSINESS ORGANIZATIONS|805 ILCS 215/ - Uniform Limited Partnership Act (2001).|Article 4 - General Partners

Sec. 407. Right of general partner and former general partner to information.(a) A general partner, without having any particular purpose for seeking the information, may inspect and copy during regular business hours:(1) in the limited partnership's designated office,     required information; and(2) at a reasonable location specified by the limited     partnership, any other records maintained by the limited partnership regarding the limited partnership's activities and financial condition.(b) Each general partner and the limited partnership shall furnish to a general partner:(1) without demand, any information concerning the     limited partnership's activities and activities reasonably required for the proper exercise of the general partner's rights and duties under the partnership agreement or this Act; and(2) on demand, any other information concerning the     limited partnership's activities, except to the extent the demand or the information demanded is unreasonable or otherwise improper under the circumstances.(c) Subject to subsection (e), on 10 days' demand made in a record received by the limited partnership, a person dissociated as a general partner may have access to the information and records described in subsection (a) at the location specified in subsection (a) if:(1) the information or record pertains to the period     during which the person was a general partner;(2) the person seeks the information or record in     good faith; and(3) the person satisfies the requirements imposed on     a limited partner by Section 304(b).(d) The limited partnership shall respond to a demand made pursuant to subsection (c) in the same manner as provided in Section 304(c).(e) If a general partner dies, Section 704 applies.(f) The limited partnership may impose reasonable restrictions on the use of information under this Section. In any dispute concerning the reasonableness of a restriction under this subsection, the limited partnership has the burden of proving reasonableness.(g) A limited partnership may charge a person dissociated as a general partner that makes a demand under this Section reasonable costs of copying, limited to the costs of labor and material.(h) A general partner or person dissociated as a general partner may exercise the rights under this Section through an attorney or other agent. Any restriction imposed under subsection (f) or by the partnership agreement applies both to the attorney or other agent and to the general partner or person dissociated as a general partner.(i) The rights under this Section do not extend to a person as transferee, but the rights under subsection (c) of a person dissociated as a general may be exercised by the legal representative of an individual who dissociated as a general partner under Section 603(7)(B) or (C).(Source: P.A. 93-967, eff. 1-1-05.)
805 ILCS 215/408
2021 Illinois Compiled Statutes|Chapter 805 - BUSINESS ORGANIZATIONS|805 ILCS 215/ - Uniform Limited Partnership Act (2001).|Article 4 - General Partners

(805 ILCS 215/408)Sec. 408. General standards of general partner's conduct.(a) The fiduciary duties that a general partner has to the limited partnership and the other partners include the duties of loyalty and care under subsections (b) and (c).(b) A general partner's duty of loyalty to the limited partnership and the other partners includes the following:(1) to account to the limited partnership and hold as     trustee for it any property, profit, or benefit derived by the general partner in the conduct and winding up of the limited partnership's activities or derived from a use by the general partner of limited partnership property, including the appropriation of a limited partnership opportunity;(2) to act fairly when dealing with the limited     partnership in the conduct or winding up of the limited partnership's activities as or on behalf of a party having an interest adverse to the limited partnership; and(3) to refrain from competing with the limited     partnership in the conduct or winding up of the limited partnership's activities.(c) A general partner's duty of care to the limited partnership and the other partners in the conduct and winding up of the limited partnership's activities is limited to refraining from engaging in grossly negligent or reckless conduct, intentional misconduct, or a knowing violation of law.(d) A general partner shall discharge the duties to the partnership and the other partners under this Act or under the partnership agreement and exercise any rights consistently with the obligation of good faith and fair dealing.(e) A general partner does not violate a duty or obligation under this Act or under the partnership agreement merely because the general partner's conduct furthers the general partner's own interest.(Source: P.A. 93-967, eff. 1-1-05.)
805 ILCS 215/Art. 5 heading
2021 Illinois Compiled Statutes|Chapter 805 - BUSINESS ORGANIZATIONS|805 ILCS 215/ - Uniform Limited Partnership Act (2001).|Article 5 - Contributions and Distributions

   ARTICLE 5  CONTRIBUTIONS AND DISTRIBUTIONS  (Source: P.A. 93-967, eff. 1-1-05.)
805 ILCS 215/501
2021 Illinois Compiled Statutes|Chapter 805 - BUSINESS ORGANIZATIONS|805 ILCS 215/ - Uniform Limited Partnership Act (2001).|Article 5 - Contributions and Distributions

Sec. 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 performed, promissory notes, other agreements to contribute cash or property, and contracts for services to be performed.    (Source: P.A. 93-967, eff. 1-1-05.)
805 ILCS 215/502
2021 Illinois Compiled Statutes|Chapter 805 - BUSINESS ORGANIZATIONS|805 ILCS 215/ - Uniform Limited Partnership Act (2001).|Article 5 - Contributions and Distributions

Sec. 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 is not excused by the partner's death, disability, or other inability to perform personally.(b) If a partner does not make a promised non-monetary contribution, the partner is obligated at the option of the limited partnership to contribute money equal to that portion of the value, as stated in the required information, of the stated contribution which has not been made.(c) The obligation of a partner to make a contribution or return money or other property paid or distributed in violation of this Act may be compromised only by consent of all partners. A creditor of a limited partnership which extends credit or otherwise acts in reliance on an obligation described in subsection (a), without notice of any compromise under this subsection, may enforce the original obligation.(Source: P.A. 93-967, eff. 1-1-05.)
805 ILCS 215/503
2021 Illinois Compiled Statutes|Chapter 805 - BUSINESS ORGANIZATIONS|805 ILCS 215/ - Uniform Limited Partnership Act (2001).|Article 5 - Contributions and Distributions

Sec. 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 required records when the limited partnership decides to make the distribution, of the contributions the limited partnership has received from each partner.    (Source: P.A. 93-967, eff. 1-1-05.)
805 ILCS 215/504
2021 Illinois Compiled Statutes|Chapter 805 - BUSINESS ORGANIZATIONS|805 ILCS 215/ - Uniform Limited Partnership Act (2001).|Article 5 - Contributions and Distributions

Sec. 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 partnership decides to make an interim distribution.    (Source: P.A. 93-967, eff. 1-1-05.)
805 ILCS 215/505
2021 Illinois Compiled Statutes|Chapter 805 - BUSINESS ORGANIZATIONS|805 ILCS 215/ - Uniform Limited Partnership Act (2001).|Article 5 - Contributions and Distributions

Sec. 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. 1-1-05.)
805 ILCS 215/506
2021 Illinois Compiled Statutes|Chapter 805 - BUSINESS ORGANIZATIONS|805 ILCS 215/ - Uniform Limited Partnership Act (2001).|Article 5 - Contributions and Distributions

Sec. 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 cash. Subject to Section 812(b), a limited partnership may distribute an asset in kind to the extent each partner receives a percentage of the asset equal to the partner's share of distributions.    (Source: P.A. 93-967, eff. 1-1-05.)
805 ILCS 215/507
2021 Illinois Compiled Statutes|Chapter 805 - BUSINESS ORGANIZATIONS|805 ILCS 215/ - Uniform Limited Partnership Act (2001).|Article 5 - Contributions and Distributions

Sec. 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 to all remedies available to, a creditor of the limited partnership with respect to the distribution. However, the limited partnership's obligation to make a distribution is subject to offset for any amount owed to the limited partnership by the partner or dissociated partner on whose account the distribution is made.    (Source: P.A. 93-967, eff. 1-1-05.)
805 ILCS 215/508
2021 Illinois Compiled Statutes|Chapter 805 - BUSINESS ORGANIZATIONS|805 ILCS 215/ - Uniform Limited Partnership Act (2001).|Article 5 - Contributions and Distributions

Sec. 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 a distribution if after the distribution:(1) the limited partnership would not be able to pay     its debts as they become due in the ordinary course of the limited partnership's activities; or(2) the limited partnership's total assets would be     less than the sum of its total liabilities plus the amount that would be needed, if the limited partnership were to be dissolved, wound up, and terminated at the time of the distribution, to satisfy the preferential rights upon dissolution, winding up, and termination of partners whose preferential rights are superior to those of persons receiving the distribution.(c) A limited partnership may base a determination that a distribution is not prohibited under subsection (b) on financial statements prepared on the basis of accounting practices and principles that are reasonable in the circumstances or on a fair valuation or other method that is reasonable in the circumstances.(d) Except as otherwise provided in subsection (g), the effect of a distribution under subsection (b) is measured:(1) in the case of distribution by purchase,     redemption, or other acquisition of a transferable interest in the limited partnership, as of the date money or other property is transferred or debt incurred by the limited partnership; and(2) in all other cases, as of the date:(A) the distribution is authorized, if the         payment occurs within 120 days after that date; or(B) the payment is made, if payment occurs more         than 120 days after the distribution is authorized.(e) A limited partnership's indebtedness to a partner incurred by reason of a distribution made in accordance with this Section is at parity with the limited partnership's indebtedness to its general, unsecured creditors.(f) A limited partnership's indebtedness, including indebtedness issued in connection with or as part of a distribution, is not considered a liability for purposes of subsection (b) if the terms of the indebtedness provide that payment of principal and interest are made only to the extent that a distribution could then be made to partners under this Section.(g) If indebtedness is issued as a distribution, each payment of principal or interest on the indebtedness is treated as a distribution, the effect of which is measured on the date the payment is made.(Source: P.A. 93-967, eff. 1-1-05.)