IL HB4273

Amends the Business Corporation Act of 1983 by adding Section 8.61 to establish rules governing corporate opportunities

Prohibits directors, officers, key employees, or other fiduciaries from taking advantage of a corporate opportunity unless they first offer it to the corporation and the corporation rejects it

Allows the individual to pursue the opportunity only after rejection by a disinterested board of directors or disinterested shareholder action

Permits corporations to override these requirements through contrary provisions in their articles of incorporation

Takes effect immediately upon becoming law