Bill Title: Amends the Limited Liability Company Act. Provides that a limited liability company's operating agreement may not restrict the duty to act fairly as described in the Act. Provides that the operating agreement may identify the standards by which the obligation to act fairly is measured.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Failed) 2021-01-13 - Session Sine Die [SB2797 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Introduced	2020-02-05	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois SB2797

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois SB2797 currently on file.

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