(805 ILCS 206/909)
Approval of conversion into a
limited liability company.
A partnership may convert into a limited liability company organized, formed,
under the laws of this State, upon approval of the conversion in accordance
with this Section.
The terms and conditions of a conversion of a partnership to a limited
liability company must be
approved by all of the partners or by a number or percentage of the partners
conversion in the partnership agreement.
After a conversion is approved, the partnership shall file articles of
organization in the
Office of the Secretary of State in accordance with subsection (d) of Section
37-10 of the
Limited Liability Company Act.
(Source: P.A. 92-740, eff. 1-1-03.)