(805 ILCS 5/13.05) (from Ch. 32, par. 13.05)
Sec. 13.05.
Admission of foreign corporation.
Except as provided in Article V of the Illinois Insurance Code, a foreign
corporation organized for profit, before it transacts business
in this State, shall procure authority so to do from the
Secretary of State. A foreign corporation
organized for profit,
upon
complying with the provisions of this Act, may secure from the Secretary
of State the authority to transact business in this
State, but
no foreign corporation shall be entitled to procure
authority under this Act to act as trustee, executor, administrator,
administrator to collect, or guardian, or in any other like
fiduciary capacity in this State or to transact in this State the business
of banking, insurance, suretyship, or a business of the character of a
building and loan corporation.
A foreign professional
service corporation may secure authority to transact
business
in this State from the Secretary of State upon complying with this Act and
demonstrating compliance with the Act regulating the professional service
to be rendered by the professional service corporation.
However, no foreign professional service corporation shall be granted authority unless it complies with the requirements of the
Professional Service Corporation Act concerning ownership and control by
specified licensed professionals. These professionals must be licensed in the
state of domicile or this State.
A foreign corporation
shall not be denied authority by reason of the fact that
the
laws of the state
under which such corporation is organized governing its organization and
internal affairs differ from the laws of this State, and nothing in this
Act contained shall be construed to authorize this State to regulate the
organization or the internal affairs of such corporation.
(Source: P.A. 91-593, eff. 8-14-99; 92-33, eff. 7-1-01.)
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