{"data":{"id":"us-il/805-ilcs-215-602","jurisdiction":"us-il","citation":"805 ILCS 215/602","heading":"Effect of dissociation as limited partner.","body":"(a) Upon a person's dissociation as a limited partner:\n(1) subject to Section 704, the person does not have further rights as a limited partner;\n(2) the person's obligation of good faith and fair dealing as a limited partner under Section 305(b) continues only as to matters arising and events occurring before the dissociation; and\n(3) subject to Section 704 and Article 11, any transferable interest owned by the person in the person's capacity as a limited partner immediately before dissociation is owned by the person as a mere transferee.\n(b) A person's dissociation as a limited partner does not of itself discharge the person from any obligation to the limited partnership or the other partners which the person incurred while a limited partner.","path":["CHAPTER 805 BUSINESS ORGANIZATIONS","Uniform Limited Partnership Act (2001)."],"source_url":"https://www.ilga.gov/legislation/ILCS/details?ActID=2625\u0026ChapterID=65\u0026ChapAct=FullText\u0026Print=True","current_through":"at least Public Act 104-790","vintage":"","retrieved_at":"2026-09-15T04:46:47Z","sha256":"333b2941cd19b044052dbd633026bdcc632dca7d20cb471b838f2da71f0884ef","source_id":"us-il","stale":false,"prev":"us-il/805-ilcs-215-601","next":"us-il/805-ilcs-215-603"},"notice":"GroundRules: Original legal text. Not legal advice."}