HB4273 - 104th General Assembly (2025-2026)

CORPORATE OPPORTUNITIES
Last Action
4/28/2026 - Senate: Assigned to Judiciary
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
DateChamberAction
1/05/2026HouseFiled with the Clerk by Rep. Daniel Didech
1/14/2026HouseFirst Reading
1/14/2026HouseReferred to Rules Committee
2/11/2026HouseAssigned to Judiciary - Civil Committee
3/19/2026HouseDo Pass / Short Debate Judiciary - Civil Committee; 013-007-000
3/19/2026HousePlaced on Calendar 2nd Reading - Short Debate
4/10/2026HouseSecond Reading - Short Debate
4/10/2026HouseHeld on Calendar Order of Second Reading - Short Debate
4/14/2026HousePlaced on Calendar Order of 3rd Reading - Short Debate
4/14/2026HouseChair Rules Standard Debate
4/14/2026HousePlaced on Calendar Order of 3rd Reading - Standard Debate
4/14/2026HouseThird Reading - Standard Debate - Passed
4/15/2026SenateArrive in Senate
4/15/2026SenatePlaced on Calendar Order of First Reading
4/15/2026SenateChief Senate Sponsor Sen. Michael E. Hastings
4/15/2026SenateFirst Reading
4/15/2026SenateReferred to Assignments
4/28/2026SenateAssigned to Judiciary