093_SB1491
LRB093 05979 MBS 11349 b
1 AN ACT concerning business organizations.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. The Medical Corporation Act is amended by
5 changing Section 13 as follows:
6 (805 ILCS 15/13) (from Ch. 32, par. 643)
7 Sec. 13. All of the officers, directors and shareholders
8 of a corporation subject to this Act shall at all times be
9 persons licensed pursuant to the Medical Practice Act of
10 1987, the Physician Assistant Practice Act of 1987, the
11 Podiatric Medical Practice Act of 1987, or, if an officer,
12 director, or shareholder is an advanced practice nurse, the
13 Nursing and Advanced Practice Nursing Act. No person who is
14 not so licensed shall have any part in the ownership,
15 management, or control of such corporation, nor may any proxy
16 to vote any shares of such corporation be given to a person
17 who is not so licensed. Notwithstanding any provisions to the
18 contrary in the "Business Corporation Act of 1983", as now or
19 hereafter amended, if all of the shares of a corporation
20 subject to this Act are owned by one shareholder, the office
21 of president and secretary may be held by the same person.
22 (Source: P.A. 85-1209.)
23 Section 99. Effective date. This Act takes effect upon
24 becoming law.