(805 ILCS 5/2A.10) (from Ch. 32, par. 2A.10)
Sec. 2A.10.
Election of existing corporation to become a close
corporation. Any corporation whose issued and outstanding shares are
subject, or upon election shall be subject, to one or more of the
restrictions on transfer set forth in Section 6.55 may become a close
corporation by executing and filing, in accordance with Sections
1.10 and 10.20 of this Act, articles of amendment of its articles of
incorporation which shall contain a statement required by Section 2A.05 to
appear in the articles of incorporation of a close corporation.
Such amendment shall be adopted in accordance with the requirements of
Section 10.20 of this Act, except that, subsection (d) of Section 10.20
notwithstanding, it must be approved unanimously in writing or by the vote
of the holders of record of all the outstanding shares of each class of
the corporation.
(Source: P.A. 96-1121, eff. 1-1-11.)
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