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IL SB3438

Bill

Official Source

Status

Passed

8/26/2014

Primary Sponsor

Don Harmon

Click for details

Origin

Senate

98th General Assembly

AI Summary

  • Increases maximum number of shares any person can subscribe for or own from 5 to 10 shares in a cooperative association
  • Raises maximum share price from $100 to $1,000 per share
  • Increases maximum total stock issuance to any one shareholder from $500 to $10,000
  • Increases shareholder ownership limit from aggregate par value of $500 to $10,000
  • Act takes effect upon becoming law

Legislative Description

CO-OPERATIVE ACT SHARE LIMIT

Last Action

Public Act . . . . . . . . . 98-1122

8/26/2014

Committee Referrals

Judiciary4/23/2014
Rules4/3/2014
Judiciary3/5/2014
Assignments2/14/2014

Full Bill Text

No bill text available