Bill Texts: IL HB3663 | 2019-2020 | 101st General Assembly
Bill Title: Creates the Limited Cooperative Association Act. Authorizes the organization of a limited cooperative association, as an entity distinct from its members, for any lawful purpose, whether or not for profit. Provides that a limited cooperative association may be a collective worker cooperative in which there is only one class of members consisting of worker-members who manage all of the affairs of the limited cooperative association or a worker cooperative or employment cooperative that includes a class of worker-members who are natural persons whose patronage consists of labor contributed to or other work performed for the limited cooperative association. Contains provisions regarding: findings; formation; articles of organization; organization; bylaws; members; community investors; voting; a board of directors; an assembly; dissolution; conversion; and applicability of securities laws. Amends the Co-operative Act and the Illinois Securities Law of 1953 to make conforming changes. Effective immediately.
Spectrum: Partisan Bill (Democrat 38-1)
Status: (Passed) 2019-08-09 - Public Act . . . . . . . . . 101-0292 [HB3663 Detail]
Spectrum: Partisan Bill (Democrat 38-1)
Status: (Passed) 2019-08-09 - Public Act . . . . . . . . . 101-0292 [HB3663 Detail]
Bill Drafts
Revision | Date | Format | Source | View |
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Chaptered | 2019-08-12 | HTML/Text | Link | View |
Enrolled | 2019-05-17 | HTML/Text | Link | View |
Engrossed | 2019-04-02 | HTML/Text | Link | View |
Introduced | 2019-02-15 | HTML/Text | Link | View |
Amendments
Amendment | Date | Disposition | Format | Source | View |
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House Amendment 001 | 2019-03-13 | Proposed | HTML/Text | Link | View |
Supplemental Documents
Title | Description | Date | Format | Source | View |
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No supplemental documents for Illinois HB3663 currently on file. |