§ 805 ILCS 180/25-1 Interim distributions
§ 805 ILCS 180/25-20 Right to distribution
§ 805 ILCS 180/25-30 Limitations on distributions
§ 805 ILCS 180/25-35 Liability for unlawful distributions
§ 805 ILCS 180/25-45 Known claims against dissolved limited liability company
§ 805 ILCS 180/25-50 Other claims against dissolved limited liability company

Terms Used In Illinois Compiled Statutes > 805 ILCS 180 > Article 25 - Distributions

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Contract: A legal written agreement that becomes binding when signed.
  • individual: shall include every infant member of the species homo sapiens who is born alive at any stage of development. See Illinois Compiled Statutes 5 ILCS 70/1.36
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Quorum: The number of legislators that must be present to do business.
  • 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