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IL HB2527

Bill

Official Source

Status

Passed

8/9/2013

Primary Sponsor

Elgie Sims

Click for details

Origin

House of Representatives

98th General Assembly

AI Summary

  • Amends the General Not For Profit Corporation Act of 1986 to create an exception for residential cooperative housing corporations regarding informal member voting procedures
  • Requires residential cooperative housing corporations to hold an open meeting with a vote of members before authorization of dissolution, rather than allowing informal written ballot procedures
  • Modifies Section 107.10 to exclude residential cooperatives from informal action by members for dissolution decisions
  • Modifies Section 112.10 to exclude residential cooperatives from voluntary dissolution by written consent
  • Adds new Section 112.12 establishing that residential cooperative housing corporations must conduct an in-person meeting and member vote before dissolution can be authorized

Legislative Description

HOUSING COOP DISSOLUTION VOTE

Last Action

Public Act . . . . . . . . . 98-0302

8/9/2013

Committee Referrals

Judiciary4/24/2013
Assignments4/19/2013
Housing3/4/2013
Rules2/20/2013

Full Bill Text

No bill text available