{"data":{"id":"us-il/805-ilcs-215-607","jurisdiction":"us-il","citation":"805 ILCS 215/607","heading":"Liability to other persons of person dissociated as general partner.","body":"(a) A person's dissociation as a general partner does not of itself discharge the person's liability as a general partner for an obligation of the limited partnership incurred before dissociation. Except as otherwise provided in subsections (b) and (c), the person is not liable for a limited partnership's obligation incurred after dissociation.\n(b) A person whose dissociation as a general partner resulted in a dissolution and winding up of the limited partnership's activities is liable to the same extent as a general partner under Section 404 on an obligation incurred by the limited partnership under Section 804.\n(c) A person that has dissociated as a general partner but whose dissociation did not result in a dissolution and winding up of the limited partnership's activities is liable on a transaction entered into by the limited partnership after the dissociation only if:\n(1) a general partner would be liable on the transaction; and\n(2) at the time the other party enters into the transaction:\n(A) less than two years has passed since the dissociation; and\n(B) the other party does not have notice of the dissociation and reasonably believes that the person is a general partner.\n(d) By agreement with a creditor of a limited partnership and the limited partnership, a person dissociated as a general partner may be released from liability for an obligation of the limited partnership.\n(e) A person dissociated as a general partner is released from liability for an obligation of the limited partnership if the limited partnership's creditor, with notice of the person's dissociation as a general partner but without the person's consent, agrees to a material alteration in the nature or time of payment of the obligation.","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":"62406aad7d8f3792aa809d8a7b004153f9ef28b6e93229879aa6c5f560d0b8e9","source_id":"us-il","stale":false,"prev":"us-il/805-ilcs-215-606","next":"us-il/805-ilcs-215-701"},"notice":"GroundRules: Original legal text. Not legal advice."}