IL SB0116

Allows shareholders to participate in and vote at corporate meetings remotely via conference telephone, interactive technology, electronic transmission, or internet, provided the corporation implements reasonable verification and participation measures.

Changes reference from "registered office" to "principal office" for determining default location of shareholder meetings in the Business Corporation Act of 1983.

Permits boards of directors to hold shareholder meetings solely by remote communication without a physical meeting location, subject to implementation of verification and participation safeguards.

Updates shareholder meeting notice requirements to specify information about remote communication methods available for participation and voting.

Adds provisions allowing corporations to file reports of interim changes in officers, directors, principal office address, and minority-owned business status for a $50 filing fee.