Bill Text: IL HB0471 | 2019-2020 | 101st General Assembly | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Amends the Business Corporation Act of 1983. Provides that if the board of directors is authorized to determine the place of a meeting of shareholders, the board of directors may determine that the meeting shall not be held at any place, but may instead be held solely by means of remote communication. Provides that a corporation may allow shareholders to participate in and act at any meeting of the shareholders through the use of remote connection; however, the corporation shall implement reasonable measures to provide the shareholders a reasonable opportunity to participate in the meeting and to vote on matters submitted to the shareholders. Provides that the corporation may implement reasonable measures to verify that each person deemed present and entitled to vote at the meeting by means of remote communication is a shareholder. Makes corresponding changes. Effective immediately.

Spectrum: Partisan Bill (Democrat 62-0)

Status: (Engrossed - Dead) 2021-01-12 - Placed on Calendar Order of Concurrence Senate Amendment(s) 2 [HB0471 Detail]

Download: Illinois-2019-HB0471-Introduced.html

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101ST GENERAL ASSEMBLY State of Illinois 2019 and 2020 HB0471 Introduced , by Rep. Michael J. Madigan SYNOPSIS AS INTRODUCED:
205 ILCS 645/1 from Ch. 17, par. 2701
Amends the Foreign Banking Office Act. Makes a technical change in a Section concerning the short title.
LRB101 03392 JRG 48400 b
A BILL FOR
HB0471 LRB101 03392 JRG 48400 b
AN ACT concerning regulation.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Foreign Banking Office Act is amended by
changing Section 1 as follows:
(205 ILCS 645/1) (from Ch. 17, par. 2701)
Sec. 1. This Act may be cited as the the "Foreign Banking
Office Act".
(Source: P.A. 78-346.)