Illinois General Assembly - Illinois Compiled Statutes

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205 ILCS 5/43

(205 ILCS 5/43) (from Ch. 17, par. 353)

Sec. 43.

Waivers; corporate action by unanimously signed writing.

When a notice is required to be given to stockholders or directors under
this Act, or by the charter or by-laws of any state bank, a waiver thereof
in writing, signed by the person or persons entitled to said notice,
whether before or after the time stated therein, shall be deemed equivalent
thereto. Whenever the vote of the stockholders or the directors, as the
case may be, at a meeting thereof is
required or permitted to be taken in connection with any corporate action,
by any section of this Act, the meeting and vote of stockholders or directors may be
dispensed with, if all of the stockholders or all of the directors who
would have been entitled to
vote upon the action if such meeting were held, shall consent in writing to
such corporate action being taken. In the event that the action which is
consented to is such as would have required the filing of a certificate
under any of the other sections of this Act, if such action had been voted
upon by the stockholders or directors at a meeting thereof, the
certificate filed under
such other section shall state that written consent has been given
hereunder, in lieu of stating that the stockholders or directors have voted upon the
corporate action in question, if such last mentioned statement is required
thereby.

(Source: P.A. 85-211.)