Votes: 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]
Text: Latest bill text (Chaptered) [HTML]
Spectrum: Partisan Bill (Democrat 38-1)
Status: (Passed) 2019-08-09 - Public Act . . . . . . . . . 101-0292 [HB3663 Detail]
Text: Latest bill text (Chaptered) [HTML]
Voting Records
Chamber | Vote | Date | Yea | Nay | NV | Abs | Total | Result | Source | View |
---|---|---|---|---|---|---|---|---|---|---|
Senate | Third Reading in Senate | 2019-05-16 | 56 | 0 | 3 | 0 | 59 | Passed | Link | View |
House | Third Reading in House | 2019-04-03 | 112 | 0 | 1 | 2 | 115 | Passed | Link | View |