Senate Sponsors: REA-SULLIVAN-VIVERITO. House Sponsors: DAVIS,STEVE-KENNER Short description: NONPROFIT CORP-BUSINESS CORP Synopsis of Bill as introduced: Amends the General Not For Profit Corporation Act of 1986. Provides that a statement of correction may not alter a corporation's articles of incorporation with respect to the corporation purpose. Provides that amended articles of incorporation may omit (now, remove) information concerning the initial directors, the initial registered agent, and the initial registered office. HOUSE AMENDMENT NO. 1. Adds reference to: 805 ILCS 5/7.65 from Ch. 32, par. 7.65 805 ILCS 210/108 from Ch. 106 1/2, par. 151-9 Amends the Business Corporation Act of 1983 concerning voting trusts; also amends the Revised Uniform Limited Partnership Act concerning use of an assumed name. Provides that a voting trust may be created for a stated duration, which may be perpetual or for a fixed period or may be determined by the occurrence of a stated condition or conditions (rather than a period not exceeding 10 years). Provides that if the agreement creating a voting trust does not con- tain a stated duration, the trust shall terminate 10 years after the agreement first became effective. Makes other changes. Makes changes applicable only to voting trust agreements created after this amendatory Act's effective date or amended after that date to include a stated duration. Authorizes a limited partnership to adopt an assum- ed name that does not contain the words "limited partnership" or the abbreviation "L.P.". Provides that as used in the Act, "assumed name" does not mean the use of a name of a division, not constituting a separate limited partnership and not containing the words "limited partnership" or an abbreviation of those words, provided that the limited partnership also clearly discloses its true name. Last action on Bill: PUBLIC ACT.............................. 91-0527 Last action date: 99-08-13 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 1 SENATE - 0 END OF INQUIRY Full Text Bill Status