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Code · Illinois · Chapter 805 — BUSINESS ORGANIZATIONS · Act 206

Sec. 806. Partner's liability to other partners after dissolution.

93 words·~1 min read·/il/chapter-805/act-206/806

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Sec. 806. Partner's liability to other partners after dissolution.
(a)Except as otherwise provided in subsection
(b)of this Section and Section 306 of this Act, after dissolution a partner is liable to the other partners for the partner's share of any partnership liability incurred under Section 804.
(b)A partner who, with knowledge of the dissolution, incurs a partnership liability under Section 804(2) by an act that is not appropriate for winding up the partnership business is liable to the partnership for any damage caused to the partnership arising from the liability.
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