96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
HB2335


 
Introduced 2/19/2009, by Rep. Angelo Saviano
 
SYNOPSIS AS INTRODUCED:
 		








  



805 ILCS 180/1-25









    Amends the Limited Liability Company Act.  Provides that a limited liability company shall not open, operate, or maintain an establishment for any of the purposes for which a limited liability company may be organized under the Act without a certificate of registration from the Department of Financial and Professional Regulation authorized by law to license individuals to engage in the profession or related professions concerned, for the professions of dentistry or medicine or in any licensing Act administered by the Department in which any licensee intending to incorporate is limited to incorporating as a professional corporation. Establishes procedures and fees for obtaining certificates of registration.  Provides that a certificate of registration shall not be assignable. Effective immediately.
















LRB096 03908 KTG 13943 b

















FISCAL NOTE ACT MAY APPLY
















 


 


A BILL FOR









 











HB2335

LRB096 03908 KTG 13943 b






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    AN ACT concerning business.

 
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    Be it enacted by the People of the State of Illinois,
 
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represented in the General Assembly:


 
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    Section 5. The Limited Liability Company Act is amended  by 
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changing Section 1-25 as follows:
 



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    (805 ILCS 180/1-25)


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    Sec. 1-25. Nature of business. A limited liability company 
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may be formed
for any lawful purpose or business except:


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        (1) (blank);


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        (2) insurance unless, for the purpose of carrying on 
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    business as a member
of a group including incorporated and 
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    individual unincorporated underwriters,
the Director of 
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    Insurance finds that the group meets the requirements of

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    subsection (3) of Section 86 of the Illinois Insurance Code 
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    and the limited
liability company, if insolvent, is subject 
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    to liquidation by the Director of
Insurance under Article 
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    XIII of the Illinois Insurance Code;


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        (3) the practice of dentistry unless all the members 
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    and managers are
licensed as dentists under the Illinois 
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    Dental Practice Act; or


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        (4) the practice of medicine unless all the managers, 
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    if any, are
licensed to practice medicine under the Medical 
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    Practice Act of 1987 and each
member is either:


 


 






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            (A) licensed to practice medicine under the 
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        Medical Practice Act of
1987; or


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            (B) a registered medical corporation or 
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        corporations organized pursuant
to the Medical 
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        Corporation Act; or


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            (C) a professional corporation organized pursuant 
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        to the Professional
Service Corporation Act of 
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        physicians licensed to practice under the Medical 
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        Practice Act of 1987; or


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            (D) a limited liability company that satisfies the 
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        requirements of
subparagraph (A), (B), or (C).

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    A limited liability company shall not open, operate, or 
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maintain an establishment for any of the purposes for which a 
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limited liability company may be organized under this Act 
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without a certificate of registration from the Department of 
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Financial and Professional Regulation authorized by law to 
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license individuals to engage in the profession or related 
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professions concerned, for the professions as provided in 
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paragraphs (3) and (4) of this Section or in any licensing Act 
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administered by the Department in which any licensee intending 
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to incorporate is limited to incorporating as a professional 
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corporation. Application for such registration shall be made in 
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writing and shall contain the name and address of the limited 
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liability company and such other information as may be required 
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by the Department. Upon receipt of such application, the 
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Department shall make an investigation of the limited liability 
 


 






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company. If the Department finds that the organizers, managers, 
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and members are each licensed pursuant to the laws of Illinois 
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to engage in the particular profession or related professions 
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involved (except that an initial organizer may be a licensed 
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attorney) and if no disciplinary action is pending before the 
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Department against any of them and if it appears that the 
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limited liability company will be conducted in compliance with 
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the law and the rules and regulations of the Department, the 
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Department shall issue, upon payment of a registration fee of 
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$50, a certificate of registration.

Upon written application of 
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the holder, the Department shall renew the certificate if it 
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finds that the limited liability company has complied with its 
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regulations and the provisions of this Act and the applicable 
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licensing Act. This fee for the renewal of a certificate of 
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registration shall be calculated at the rate of $40 per year.



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The certificate of registration shall be conspicuously posted 
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upon the premises to which it is applicable, and the limited 
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liability company shall have only those offices which are 
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designated by street address in the articles of organization, 
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or as changed by amendment of such articles. A certificate of 
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registration shall not be assignable. 
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(Source: P.A. 95-331, eff. 8-21-07; 95-738, eff. 1-1-09.)


 
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    Section 99. Effective date. This Act takes effect upon 
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becoming law.