Comments: IL HB2992 | 2019-2020 | 101st General Assembly

Bill Title: Amends the Business Corporation Act of 1983. Requires the Secretary of State to maintain a list of domestic and foreign corporations regulated under the Public Utilities Act, the Collateral Recovery Act, or the Personal Property Storage Act (rather than the Public Utilities Act), or specified provisions of the Illinois Vehicle Code (rather than both the Public Utilities Act and Chapter 18 of the Illinois Vehicle Code) that hold, as a prerequisite for doing business in the State, any franchise, license, permit, or right to engage in a business regulated by the Acts. Provides that each month the Secretary of State shall, by written notice, advise the Chief Clerk of the Illinois Commerce Commission of: any domestic corporation on the list that has been dissolved within the month; and any foreign corporation on the list whose authority to do business in Illinois has been revoked within the month. Provides that the Secretary of State and the Illinois Commerce Commission may provide each other with this information in an electronic format, including records of the Secretary of State that will provide the Illinois Commerce Commission the information it requires under the statutes it administers. Requires the provision of such information to begin as soon as practicable, but no later than October 1, 2020. Makes similar changes to the General Not For Profit Corporation Act of 1986, the Limited Liability Company Act, the Uniform Partnership Act (1997), and the Uniform Limited Partnership Act (2001).

Spectrum: Partisan Bill (Democrat 3-0)

Status: (Passed) 2019-08-23 - Public Act . . . . . . . . . 101-0494 [HB2992 Detail]

Text: Latest bill text (Chaptered) [HTML]

PolitiCorps Conversations

Start PolitiCorps Debate
TitlePolitiCorpsAccessCommentsViewsLast Post
There are no visible public or private PolitiCorps discussions concerning the 2019 Illinois HB2992 at this time.

Social Comments on IL HB2992

feedback