92nd General Assembly
Status of SB2049
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 Full Text  Bill Summary

   New Act                                                                     
   805 ILCS 205/Part VII heading new                                           
   805 ILCS 205/90 new                                                         
   805 ILCS 205/95 new                                                         
   805 ILCS 210/201          from Ch. 106 1/2, par. 152-1                      
   805 ILCS 210/805 new                                                        
   805 ILCS 210/1204         from Ch. 106 1/2, par. 162-4                      

        Creates the Uniform Partnership Act (1997) to replace the Uniform      
   Partnership Act.  The new Act adds provisions concerning  continuation      
   of  a  partnership after a partner's dissociation; fiduciary duties of      
   partners; public filing of  statements  containing  basic  information      
   about  a  partnership;  merger  of  partnerships;  and conversion of a      
   partnership to a limited partnership. Provides that a partnership  may      
   qualify  as  a  limited  liability  partnership  and  establishes  the      
   requirements  for  qualification.   Makes  the  new  Act applicable to      
   partnerships  formed  on  or  after  January  1,  2003  with   certain      
   exceptions;  makes  the  new Act applicable to all partnerships on and      
   after January 1, 2008.  Authorizes existing partnerships to  elect  to      
   be  governed  by  the new Act.  Amends the Uniform Partnership Act and      
   the Revised Uniform Limited Partnership Act to make conforming changes      
   and to  repeal  the  Uniform  Partnership  Act  on  January  1,  2008.      
   Effective January 1, 2003.                                                  
   FEB-07-2002  S  FIRST READING                                                  
   FEB-07-2002  S  ADDED AS A CHIEF CO-SPONSOR              HAWKINSON             
   FEB-07-2002  S  REFERRED TO SENATE RULES COMMITTEE       RULES                 
   FEB-20-2002  S       ASSIGNED TO COMMITTEE               JUDICIARY             
   FEB-27-2002  S                                 POSTPONED                       
   MAR-06-2002  S       DO PASS                             011-000-000   SJUD    
   MAR-06-2002  S  PLACED ON CALENDAR ORDER OF 2ND READING  02-03-07              
   MAR-20-2002  S  SECOND READING                                                 
   MAR-20-2002  S  PLACED ON CALENDAR ORDER OF 3RD READING  02-03-21              
   APR-03-2002  S  THIRD READING - PASSED                   056-000-000           
   APR-03-2002  H  ARRIVE IN HOUSE                                                
   APR-03-2002  H  PLACED CALENDAR ORDER OF FIRST READING                         
   APR-05-2002  H  HOUSE SPONSOR                            SCULLY                
   APR-05-2002  H  ADDED AS A JOINT SPONSOR                 BROSNAHAN             
   APR-05-2002  H  FIRST READING                                                  
   APR-05-2002  H  REFERRED TO HOUSE RULES COMMITTEE        RULES                 
   APR-09-2002  H       ASSIGNED TO COMMITTEE               JUD-CIVIL LAW         
   APR-18-2002  H  DO PASS/SHORT DEBATE                     011-000-000   HJUA    
   APR-18-2002  H  PLACED CALENDAR 2ND READING-SHORT DEBATE                       
   APR-23-2002  H  SECOND READING-SHORT DEBATE                                    
   APR-23-2002  H  PLCD CAL ORDER 3RD READING-SHORT DEBATE                        
   MAY-02-2002  H  3RD RDG. DEADLINE EXTENDED-RULE          9(B) TO 05/17/02      
   MAY-02-2002  H  CALENDAR ORDER 3RD READING-SHORT DEBATE                        
   MAY-08-2002  H  THIRD READING/SHORT DEBATE/PASSED        116-000-000           
   MAY-08-2002  S  PASSED BOTH HOUSES                                             
   JUN-06-2002  S  SENT TO THE GOVERNOR                                           
   JUL-25-2002  S  GOVERNOR APPROVED                                              
   JUL-25-2002  S                            EFFECTIVE DATE 03-01-01              
   JUL-25-2002  S  PUBLIC ACT.............................. 92-0740               


 Full Text  Bill Summary