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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.