GroundRules
805 ILCS 215/113: Dual capacity.
Where this section sits in the code
- CHAPTER 805 BUSINESS ORGANIZATIONS
- Uniform Limited Partnership Act (2001).
A person may be both a general partner and a limited partner. A person that is both a general and limited partner has the rights, powers, duties, and obligations provided by this Act and the partnership agreement in each of those capacities. When the person acts as a general partner, the person is subject to the obligations, duties and restrictions under this Act and the partnership agreement for general partners. When the person acts as a limited partner, the person is subject to the obligations, duties and restrictions under this Act and the partnership agreement for limited partners.
Collected 2026-09-15T04:46:47Z. Source file · JSON