(805 ILCS 206/305)
Sec. 305.
Partnership liable
for partner's actionable conduct.
(a) A partnership is liable for loss or injury caused to a person, or for a
penalty incurred, as a
result of a wrongful act or omission, or other actionable conduct, of a partner
acting in the
ordinary course of business of the partnership or with authority of the
partnership.
(b) If, in the course of the partnership's business or while acting with
authority of the
partnership, a partner receives or causes the partnership to receive money or
property of a person
not a partner, and the money or property is misapplied by a partner, the
partnership is liable for
the loss.
(Source: P.A. 92-740, eff. 1-1-03.)
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