[ Search ] [ Legislation ] [ Bill Summary ]
[ Home ] [ Back ] [ Bottom ]
| [ Introduced ] | [ Engrossed ] |
90_SB1097enr
805 ILCS 105/103.10 from Ch. 32, par. 103.10
Amends the General Not For Profit Corporation Act of 1986
to provide that a not for profit corporation shall have
standing to sue when one or more of its members would
otherwise have standing (with conditions). Effective
immediately.
LRB9003509NTsb
SB1097 Enrolled LRB9003509NTsb
1 AN ACT to amend the General Not For Profit Corporation
2 Act of 1986 by changing Section 103.10.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The General Not For Profit Corporation Act of
6 1986 is amended by changing Section 103.10 as follows:
7 (805 ILCS 105/103.10) (from Ch. 32, par. 103.10)
8 Sec. 103.10. General powers. Each corporation shall
9 have power:
10 (a) To have perpetual succession by its corporate name
11 unless a limited period of duration is stated in its articles
12 of incorporation;
13 (b) To sue and be sued, complain and defend, in its
14 corporate name, and shall have standing to sue when one or
15 more of its members would otherwise have standing to sue in
16 his or her own right, providing the interests it seeks to
17 protect are germane to the corporation's purposes, and
18 neither the claim asserted nor the relief requested requires
19 the participation of individual members in the lawsuit;
20 (c) To have a corporate seal which may be altered at
21 pleasure, and to use the same by causing it, or a facsimile
22 thereof, to be impressed or affixed or in any other manner
23 reproduced, provided that the affixing of a corporate seal to
24 an instrument shall not give the instrument additional force
25 or effect, or change the construction thereof, and the use of
26 a corporate seal is not mandatory;
27 (d) To purchase, take, receive, lease as lessee, take by
28 gift, devise, or bequest, or otherwise acquire, and to own,
29 hold, hold as trustee, use, and otherwise deal in and with
30 any real or personal property, or any interest therein,
31 situated in or out of this State;
SB1097 Enrolled -2- LRB9003509NTsb
1 (e) To sell and convey, mortgage, pledge, lease as
2 lessor, and otherwise dispose of all or any part of its
3 property and assets;
4 (f) To lend money to its officers, employees and agents
5 except as limited by Section 108.80 of this Act;
6 (g) To purchase, take, receive, subscribe for, or
7 otherwise acquire, own, hold, vote, use, employ, sell,
8 mortgage, loan, pledge, or otherwise dispose of, and
9 otherwise use and deal in and with, shares or other interests
10 in, or obligations of, other domestic or foreign
11 corporations, whether for profit or not for profit,
12 associations, partnerships or individuals;
13 (h) To incur liabilities, to borrow money for its
14 corporate purposes at such rates of interest as the
15 corporation may determine without regard to the restrictions
16 of any usury law of this State, to issue its notes, bonds and
17 other obligations; to secure any of its obligations by
18 mortgage, pledge, or deed of trust of all or any of its
19 property, franchises, and income; and to make contracts,
20 including contracts of guaranty and suretyship;
21 (i) To invest its funds from time to time and to lend
22 money for its corporate purposes, and to take and hold real
23 and personal property as security for the payment of funds so
24 invested or loaned;
25 (j) To conduct its affairs, carry on its operations, and
26 have offices within and without this State and to exercise in
27 any other state, territory, district, or possession of the
28 United States, or in any foreign country, the powers granted
29 by this Act;
30 (k) To elect or appoint officers and agents of the
31 corporation, and define their duties and fix their
32 compensations;
33 (l) To make and alter bylaws, not inconsistent with its
34 articles of incorporation or with the laws of this State,
SB1097 Enrolled -3- LRB9003509NTsb
1 except as provided in Section 102.30 of this Act, for the
2 administration and regulation of the affairs of the
3 corporation;
4 (m) To make donations in furtherance of any of its
5 purposes; to lend money to the State or Federal government;
6 and to conduct any lawful affairs in aid of the United
7 States;
8 (n) To cease its corporate activities and surrender its
9 corporate franchise;
10 (o) To establish deferred compensation plans, pension
11 plans, and other incentive plans for its directors, officers
12 and employees and to make the payments provided for therein;
13 (p) To indemnify its directors, officers, employees or
14 agents in accordance with and to the extent permitted by
15 Section 108.75 of this Act and other applicable provisions of
16 law;
17 (q) To be a promoter, partner, member, associate or
18 manager of any partnership, joint venture or other
19 enterprise; and
20 (r) To have and exercise all powers necessary or
21 convenient to effect any or all of the purposes for which the
22 corporation is formed.
23 (Source: P.A. 84-1423.)
24 Section 99. Effective date. This Act takes effect upon
25 becoming law.