Section 805 ILCS 215/1112 - Power of general partners and persons dissociated as general partners to bind organization after merger(a) An act of a person that immediately before merger became effective was a general partner in a constituent limited partnership binds the surviving organization after the merger becomes effective, if: (1) before the merger became effective, the act would have bound the constituent limited partnership under Section 402; and(2) at the time the third party enters into the transaction, the third party: (A) does not have notice of the merger; and(B) reasonably believes that the surviving business is the constituent limited partnership and that the person is a general partner in the constituent limited partnership.(b) An act of a person that before a merger became effective was dissociated as a general partner from a constituent limited partnership binds the surviving organization after the merger becomes effective, if: (1) before the merger became effective, the act would have bound the constituent limited partnership under Section 402 if the person had been a general partner; and(2) at the time the third party enters into the transaction, less than 2 years have passed since the person dissociated as a general partner and the third party:(A) does not have notice of the dissociation;(B) does not have notice of the merger; and(C) reasonably believes that the surviving organization is the constituent limited partnership and that the person is a general partner in the constituent limited partnership.(c) If a person having knowledge of the merger causes a surviving organization to incur an obligation under subsection (a) or (b), the person is liable:(1) to the surviving organization for any damage caused to the organization arising from the obligation; and(2) if another person is liable for the obligation, to that other person for any damage caused to that other person arising from the liability.Amended by P.A. 100-0561,§ 909, eff. 7/1/2018.Added by P.A. 093-0967, § 1112, eff. 1/1/2005.