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Terms Used In Illinois Compiled Statutes 805 ILCS 206/1105

  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • State: when applied to different parts of the United States, may be construed to include the District of Columbia and the several territories, and the words "United States" may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14
     The Attorney General may maintain an action to restrain a foreign limited liability partnership from transacting business in this State in violation of this Article.