Illinois Statutes
§ 501 — Partner not co-owner of partnership property
Illinois § 501
JurisdictionIllinois
TopicBUSINESS AND EMPLOYMENT
Ch. 805BUSINESS ORGANIZATIONS
Act 805 ILCS 206/Uniform Partnership Act (1997).
Art.Article 5 - Transferees And Creditors Of Partner
This text of Illinois § 501 (Partner not co-owner of partnership property) is published on Counsel Stack Legal Research, covering Illinois primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
805 Ill. Comp. Stat. 501 (2026).
Text
A partner is not a co-owner of partnership property and has no interest in partnership property which can be transferred, either voluntarily or involuntarily.
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Legislative History
(Source: P.A. 92-740, eff. 1-1-03.)
Nearby Sections
15
§ 50
§ 50§ 50-1
Annual reports§ 50-10
Fees§ 50-15
Penalty§ 50-30
(Repealed)§ 50-35
Forms§ 50-40
File number§ 50-55
Disposition of feesCite This Page — Counsel Stack
Bluebook (online)
Illinois § 501, Counsel Stack Legal Research, https://law.counselstack.com/statute/il/805/501.