A partner may lend money to and transact other business with the limited partnership and has the same rights and obligations with respect to the loan or other transaction as a person that is not a partner.
805 ILCS 215/112
Business transactions of partner with partnership
Known as the Uniform Limited Partnership Act
The act spans §§ 805-215-0-01 to 805-215-119 (21 sections).
P.A. 93-967, eff. 1-1-05.
Official source: Illinois General Assembly. Reproduced from public-domain Illinois statutes; confirm against the official source for the current text. Not legal advice.