Illinois General Assembly - Bill Status for SB1495

Synopsis As Introduced
Amends the Limited Liability Company Act. Provides that if a company fails to permit the inspection of records as required under the Act, a person making a request or demand may file an action to compel the company to permit the inspection and copying and obtain other legal or equitable relief, including (if the court finds that the company acted unreasonably) costs and attorney's fees. Provides that specified provisions do not limit the personal liability of a member or manager imposed under a law other than the Act, including agency, contract, and tort law. Makes various changes concerning: definitions; admission of members; statements of authority; operating agreements; actions by members; transfer of interests; and dissociation of members.

Senate Floor Amendment No. 1

	Deletes reference to:
	805 ILCS 180/15-5

Provides that a purpose of the bill is to overrule Dass v. Yale, 2013 IL App (1st) 122520. Removes changes that would have permitted certain decisions to be ratified by one or more members or disinterested managers or other disinterested persons.

House Committee Amendment No. 1
Provides that a purpose of the bill is to overrule the interpretation of specified portions of the Limited Liability Company Act set forth in Dass v. Yale, 2013 IL App (1st) 122520, and Carollo v. Irwin, 2011 IL App (1st) 102765 instead of ("to overrule Dass v. Yale"). Corrects a typographical error.

Actions

Date	Chamber	Action
2/13/2019	Senate	Filed with Secretary by Sen. John G. Mulroe
2/13/2019	Senate	First Reading
2/13/2019	Senate	Referred to Assignments
2/27/2019	Senate	Assigned to Judiciary
3/5/2019	Senate	Postponed - Judiciary
3/12/2019	Senate	Do Pass Judiciary; 008-000-000
3/12/2019	Senate	Placed on Calendar Order of 2nd Reading March 13, 2019
3/13/2019	Senate	Second Reading
3/13/2019	Senate	Placed on Calendar Order of 3rd Reading March 14, 2019
4/4/2019	Senate	Senate Floor Amendment No. 1 Filed with Secretary by Sen. John G. Mulroe
4/4/2019	Senate	Senate Floor Amendment No. 1 Referred to Assignments
4/9/2019	Senate	Senate Floor Amendment No. 1 Assignments Refers to Judiciary
4/9/2019	Senate	Senate Floor Amendment No. 1 Recommend Do Adopt Judiciary; 008-000-000
4/10/2019	Senate	Recalled to Second Reading
4/10/2019	Senate	Senate Floor Amendment No. 1 Adopted; Mulroe
4/10/2019	Senate	Placed on Calendar Order of 3rd Reading
4/10/2019	Senate	Third Reading - Passed; 055-000-000
4/11/2019	House	Arrived in House
4/12/2019	House	Chief House Sponsor Rep. Daniel Didech
4/12/2019	House	First Reading
4/12/2019	House	Referred to Rules Committee
4/30/2019	House	Assigned to Judiciary - Civil Committee
5/1/2019	House	To Commercial Law Subcommittee
5/2/2019	House	House Committee Amendment No. 1 Filed with Clerk by Rep. Daniel Didech
5/2/2019	House	House Committee Amendment No. 1 Referred to Rules Committee
5/7/2019	House	House Committee Amendment No. 1 Rules Refers to Judiciary - Civil Committee
5/8/2019	House	Reported Back To Judiciary - Civil Committee; 005-002-000
5/9/2019	House	House Committee Amendment No. 1 Adopted in Judiciary - Civil Committee; by Voice Vote
5/9/2019	House	Do Pass as Amended / Short Debate Judiciary - Civil Committee; 009-005-000
5/9/2019	House	Placed on Calendar 2nd Reading - Short Debate
5/16/2019	House	Second Reading - Short Debate
5/16/2019	House	Placed on Calendar Order of 3rd Reading - Short Debate
5/22/2019	House	Third Reading - Short Debate - Passed 077-040-001
5/22/2019	Senate	Secretary's Desk - Concurrence House Amendment(s) 1
5/22/2019	Senate	Placed on Calendar Order of Concurrence House Amendment(s) 1 - May 23, 2019
5/22/2019	Senate	House Committee Amendment No. 1 Motion to Concur Filed with Secretary Sen. John G. Mulroe
5/22/2019	Senate	House Committee Amendment No. 1 Motion to Concur Referred to Assignments
5/28/2019	Senate	House Committee Amendment No. 1 Motion to Concur Assignments Referred to Judiciary
5/28/2019	Senate	House Committee Amendment No. 1 Motion To Concur Recommended Do Adopt Judiciary; 006-000-000
5/31/2019	Senate	House Committee Amendment No. 1 Senate Concurs 058-000-000
5/31/2019	Senate	Senate Concurs
5/31/2019	Senate	Passed Both Houses
6/28/2019	Senate	Sent to the Governor
8/23/2019	Senate	Governor Approved
8/23/2019	Senate	Effective Date January 1, 2020
8/23/2019	Senate	Public Act . . . . . . . . . 101-0553

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