More than 70 business entity statutes were added or amended by the Illinois legislature during the latest legislative session, including extensive changes to the state’s Limited Liability Company Act. The 2017 Edition of Illinois Laws Governing Business Entities captures these and other changes made during the 2017 legislative session.
The amended LLC Act, which became effective July 1, 2017, aligns the state’s LLC law more closely with the Revised Uniform Liability Company Act promulgated by the National Conference of Commissioners on Uniform State Laws. The amended Act:
The 2017 Edition of Illinois Laws Governing Business Entities is updated through Public Act 99-938. Legislative changes are listed in the Table of Sections Affected, and Blackline Amendment notes in the book indicate where information has been added or deleted.
The deskbook also includes over two dozen new case notes from state and federal court decisions, as well as the full text of five significant covering recent legal developments regarding administrative hearings, continuation, joint ventures, provisional directors, and piercing the corporate veil. New case notes are listed in the Table of New Annotations, and are indicated with gray bars inside the book.
Other resources include insightful commentary from legal advisors Darrell Pierce and Darnell Clayborn of Dykema Gossett PLLC, as well as a companion CD-ROM containing more than 100 Illinois forms for incorporation/formation, qualification, mergers, dissolution, and name reservation for all entity types. A listing of the forms and contact information for the Illinois Secretary of State can be found in the book’s forms appendix.
Illinois Laws Governing Business Entities is available as a softbound book or as an ebook, compatible with dedicated e-reader devices, computers, tablets and smartphones that use e-reader software or applications. It is also available on the LexisNexis Digital Library.