(805 ILCS 206/805)
Sec. 805.
Statement of dissolution.
(a) After dissolution, a partner who has not wrongfully dissociated may file
a statement of
dissolution stating the name of the partnership and that the partnership has
dissolved and is
winding up its business.
(b) A statement of dissolution cancels a filed statement of partnership
authority for the
purposes of Section 303(d) and is a limitation on authority for the purposes of
Section 303(e).
(c) For the purposes of Sections 301 and 804, a person not a partner is
deemed to have notice
of the dissolution and the limitation on the partners' authority as a result of
the statement of
dissolution 90 days after it is filed.
(d) After filing and, if appropriate, recording a statement of dissolution,
a dissolved
partnership may file and, if appropriate, record a statement of partnership
authority which will
operate with respect to a person not a partner as provided in Section 303(d)
and (e) in any
transaction, whether or not the transaction is appropriate for winding up the
partnership business.
(Source: P.A. 92-740, eff. 1-1-03.)
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