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HB4273 - 104th General Assembly
CORPORATE OPPORTUNITIES
Last Action
Statutes Amended In Order of Appearance
805 ILCS 5/8.61 new
Synopsis As Introduced
Amends the Business Corporation Act of 1983. Provides that, subject to any contrary provision in the articles of incorporation of a corporation, a director, officer, key employee, or other fiduciary of the corporation shall not take advantage of a corporate opportunity unless the person first tenders the opportunity to the corporation and the corporation rejects the opportunity. Provides that, if the rejection is by a disinterested board of directors or by disinterested shareholder action, the director, officer, key employee, or other fiduciary of the corporation may then take advantage of the opportunity. Effective immediately.
Actions
| Date | Chamber | Action |
|---|---|---|
| 1/05/2026 | House | Filed with the Clerk by Rep. Daniel Didech |
| 1/14/2026 | House | First Reading |
| 1/14/2026 | House | Referred to Rules Committee |
| 2/11/2026 | House | Assigned to Judiciary - Civil Committee |
| 3/19/2026 | House | Do Pass / Short Debate Judiciary - Civil Committee; 013-007-000 |
| 3/19/2026 | House | Placed on Calendar 2nd Reading - Short Debate |
| 4/10/2026 | House | Second Reading - Short Debate |
| 4/10/2026 | House | Held on Calendar Order of Second Reading - Short Debate |
| 4/14/2026 | House | Placed on Calendar Order of 3rd Reading - Short Debate |
| 4/14/2026 | House | Chair Rules Standard Debate |
| 4/14/2026 | House | Placed on Calendar Order of 3rd Reading - Standard Debate |
| 4/14/2026 | House | Third Reading - Standard Debate - Passed |
| 4/15/2026 | Senate | Arrive in Senate |
| 4/15/2026 | Senate | Placed on Calendar Order of First Reading |
| 4/15/2026 | Senate | Chief Senate Sponsor Sen. Michael E. Hastings |
| 4/15/2026 | Senate | First Reading |
| 4/15/2026 | Senate | Referred to Assignments |