HB5120 101ST GENERAL ASSEMBLY

LRB101 19035 JLS 68495 b

101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020
HB5120

Introduced 2/18/2020, by Rep. Tom Demmer

SYNOPSIS AS INTRODUCED:

805 ILCS 5/13.35

from Ch. 32, par. 13.35

Amends the Business Corporation Act of 1983. Makes a technical change is a Section concerning mergers.

A BILL FOR

AN ACT concerning business.

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

Section 5. The Business Corporation Act of 1983 is amended by changing Section 13.35 as follows:

(805 ILCS 5/13.35) (from Ch. 32, par. 13.35)

Sec. 13.35. Merger of foreign corporation authorized to transact business in this state. Whenever a foreign corporation authorized to transact business in this State shall be a party to a statutory merger permitted by the laws of the state or country under which it is organized, and such corporation shall be the surviving corporation, it shall forthwith file with the Secretary of State a copy of the articles of merger duly authenticated by the proper officer of the state or country under the laws of which such such statutory merger was effected; and it shall not be necessary for such corporation to procure either new or amended authority to transact business in this State unless the name of such corporation or the duration of its corporate existence be changed thereby or unless the corporation desires to pursue in this State other or additional purposes than those which it is then authorized to transact in this State.

(Source: P.A. 92-33, eff. 7-1-01.)