IL HB4361 | 2015-2016 | 99th General Assembly

Status

Completed Legislative Action
Spectrum: Partisan Bill (Democrat 3-0)
Status: Passed on July 28 2016 - 100% progression
Action: 2016-07-28 - Public Act . . . . . . . . . 99-0637
Text: Latest bill text (Chaptered) [HTML]

Summary

Amends the Limited Liability Company Act. Establishes distinctions between membership interests. Provides for the appointment of officers. Authorizes the use of oral operating agreements. Makes changes concerning electronic signatures. Makes changes regarding a member's right to information. Provides that members of limited liability company are not agents solely because of membership. Expands the scope of operating agreements. Makes changes concerning unauthorized distributions. Provides that creditors acquire only distributional rights. Requires judicial action for dissolution based upon illegality. Abolishes certain statutory buyout rights. Provides for domestication of foreign companies. Provides for conversion of business entities into other forms. Requires the filing of a post office address for service of process. Limits the ability of companies to transact business until an application is filed with the Secretary of State. Makes technical and other changes. Effective July 1, 2017.

Tracking Information

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Title

LLC-VARIOUS

Sponsors


Roll Calls

2016-05-26 - Senate - Third Reading in Senate (Y: 54 N: 0 NV: 5 Abs: 0) [PASS]
2016-04-14 - House - Third Reading in House (Y: 112 N: 0 NV: 1 Abs: 1) [PASS]

History

DateChamberAction
2016-07-28HousePublic Act . . . . . . . . . 99-0637
2016-07-28HouseEffective Date July 1, 2017
2016-07-28HouseGovernor Approved
2016-06-24HouseSent to the Governor
2016-05-26HousePassed Both Houses
2016-05-26SenateThird Reading - Passed; 054-000-000
2016-05-10SenatePlaced on Calendar Order of 3rd Reading May 11, 2016
2016-05-10SenateSecond Reading
2016-05-04SenatePlaced on Calendar Order of 2nd Reading May 5, 2016
2016-05-04SenateDo Pass Judiciary; 010-000-000
2016-04-27SenateAssigned to Judiciary
2016-04-18SenateReferred to Assignments
2016-04-18SenateFirst Reading
2016-04-18SenateChief Senate Sponsor Sen. Don Harmon
2016-04-18SenatePlaced on Calendar Order of First Reading April 19, 2016
2016-04-18SenateArrive in Senate
2016-04-15HouseAdded Chief Co-Sponsor Rep. Carol Sente
2016-04-14HouseThird Reading - Short Debate - Passed 112-000-001
2016-04-12HousePlaced on Calendar Order of 3rd Reading - Short Debate
2016-04-12HouseSecond Reading - Short Debate
2016-04-07HousePlaced on Calendar 2nd Reading - Short Debate
2016-04-06HouseDo Pass / Short Debate Judiciary - Civil Committee; 011-000-000
2016-02-23HouseAssigned to Judiciary - Civil Committee
2016-01-13HouseReferred to Rules Committee
2016-01-13HouseFirst Reading
2015-12-14HouseFiled with the Clerk by Rep. Elaine Nekritz

Code Citations

ChapterArticleSectionCitation TypeStatute Text
8051801-30Amended CodeCitation Text
8051801-40Amended CodeCitation Text
8051801-46New CodeSee Bill Text
8051801-5Amended CodeCitation Text
8051801-6New CodeSee Bill Text
8051801-65New CodeSee Bill Text
80518010-1Amended CodeCitation Text
80518010-15Amended CodeCitation Text
80518013-15New CodeSee Bill Text
80518013-20New CodeSee Bill Text
80518013-5Amended CodeCitation Text
80518015-1Amended CodeCitation Text
80518015-3Amended CodeCitation Text
80518015-5Amended CodeCitation Text
80518015-7Amended CodeCitation Text
80518020-1Amended CodeCitation Text
80518020-5Amended CodeCitation Text
80518025-35Amended CodeCitation Text
80518030-10Amended CodeCitation Text
80518030-20Amended CodeCitation Text
80518030-25New CodeSee Bill Text
80518030-5Amended CodeCitation Text
80518035-1Amended CodeCitation Text
80518035-15Amended CodeCitation Text
80518035-20Amended CodeCitation Text
80518035-3Amended CodeCitation Text
80518035-37New CodeSee Bill Text
80518035-4Amended CodeCitation Text
80518035-45Amended CodeCitation Text
80518035-55Amended CodeCitation Text
80518035-60Repealed CodeCitation Text
80518035-65Repealed CodeCitation Text
80518035-7Amended CodeCitation Text
80518035-70Repealed CodeCitation Text
80518037-10Amended CodeCitation Text
80518037-15Amended CodeCitation Text
80518037-16New CodeSee Bill Text
80518037-17New CodeSee Bill Text
80518037-20Amended CodeCitation Text
80518037-21New CodeSee Bill Text
80518037-25Amended CodeCitation Text
80518037-30Amended CodeCitation Text
80518037-31New CodeSee Bill Text
80518037-32New CodeSee Bill Text
80518037-33New CodeSee Bill Text
80518037-34New CodeSee Bill Text
80518037-36New CodeSee Bill Text
80518037-40Amended CodeCitation Text
80518037-5Amended CodeCitation Text
8051805-45Amended CodeCitation Text
8051805-47Amended CodeCitation Text
8051805-5Amended CodeCitation Text
8051805-50Amended CodeCitation Text
80518050-1Amended CodeCitation Text
80518050-10Amended CodeCitation Text
80518055-1Amended CodeCitation Text
80518055-3New CodeSee Bill Text
805180Art. 30 headingAmended CodeCitation Text
805180Art. 37 headingAmended CodeCitation Text

Illinois State Sources


Bill Comments

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