IL SB2765 | 2023-2024 | 103rd General Assembly
Status
Completed Legislative Action
Spectrum: Partisan Bill (Democrat 3-0)
Status: Passed on August 9 2024 - 100% progression
Action: 2024-08-09 - Public Act . . . . . . . . . 103-0920
Text: Latest bill text (Chaptered) [HTML]
Spectrum: Partisan Bill (Democrat 3-0)
Status: Passed on August 9 2024 - 100% progression
Action: 2024-08-09 - Public Act . . . . . . . . . 103-0920
Text: Latest bill text (Chaptered) [HTML]
Summary
Amends the Limited Liability Company Act. Provides that specified provisions under the Act do not limit the personal liability of a member or manager imposed under law other than the Act, including, but not limited to, the law of agency, contracts, and torts, and, subject to specified provisions, court imposed equitable remedies, such as piercing the limited liability company veil. Provides that the provisions apply to all actions with respect to which all timely appeals have not been exhausted before the effective date of the amendatory Act and all future actions commenced on or after the effective date of the amendatory Act. Makes other changes.
Title
LIMITED LIABILITY COMPANY
Sponsors
Roll Calls
2024-05-15 - House - Third Reading in House (Y: 72 N: 41 NV: 0 Abs: 0) [PASS]
2024-04-11 - Senate - Third Reading in Senate (Y: 37 N: 19 NV: 3 Abs: 0) [PASS]
2024-04-11 - Senate - Third Reading in Senate (Y: 37 N: 19 NV: 3 Abs: 0) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2024-08-09 | Senate | Public Act . . . . . . . . . 103-0920 |
| 2024-08-09 | Senate | Effective Date January 1, 2025 |
| 2024-08-09 | Senate | Governor Approved |
| 2024-06-13 | Senate | Sent to the Governor |
| 2024-05-15 | Senate | Passed Both Houses |
| 2024-05-15 | House | Third Reading - Short Debate - Passed 072-041-000 |
| 2024-05-08 | House | Added Alternate Chief Co-Sponsor Rep. Stephanie A. Kifowit |
| 2024-05-06 | House | Placed on Calendar Order of 3rd Reading - Short Debate |
| 2024-05-06 | House | Second Reading - Short Debate |
| 2024-05-01 | House | Placed on Calendar 2nd Reading - Short Debate |
| 2024-05-01 | House | Do Pass / Short Debate Judiciary - Civil Committee; 010-004-000 |
| 2024-04-24 | House | Assigned to Judiciary - Civil Committee |
| 2024-04-15 | House | Referred to Rules Committee |
| 2024-04-15 | House | First Reading |
| 2024-04-12 | House | Chief House Sponsor Rep. Daniel Didech |
| 2024-04-11 | House | Arrived in House |
| 2024-04-11 | Senate | Third Reading - Passed; 037-019-002 |
| 2024-03-21 | Senate | Placed on Calendar Order of 3rd Reading March 22, 2024 |
| 2024-03-21 | Senate | Second Reading |
| 2024-02-07 | Senate | Placed on Calendar Order of 2nd Reading February 8, 2024 |
| 2024-02-07 | Senate | Do Pass Judiciary; 006-003-000 |
| 2024-01-31 | Senate | Assigned to Judiciary |
| 2024-01-16 | Senate | Referred to Assignments |
| 2024-01-16 | Senate | First Reading |
| 2024-01-16 | Senate | Filed with Secretary by Sen. Robert F. Martwick |
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| 805 | 180 | 10-10 | Amended Code | Citation Text |
