92nd General Assembly
Summary of HB4228
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House Sponsors:
HOEFT-HOWARD-RUTHERFORD-MATHIAS-HULTGREN.

Senate Sponsors:
RADOGNO-HALVORSON

Short description: 
BUS CORP-SHAREHOLDER MEETINGS                                              

Synopsis of Bill as introduced:
        Amends the  Business  Corporation  Act  of  1983.  In  provisions      
   concerning   meetings  of  shareholders,  provides  that  the  use  of      
   interactive  technology,  including  but  not  limited  to  electronic      
   transmission,  Internet  usage  or  remote  communication,  shall   be      
   encouraged  to  give more shareholders the opportunity to participate.      
   Effective immediately.                                                      
        SENATE AMENDMENT NO. 1.                                                
          Adds reference to:                                                   
          805 ILCS 105/107.05                                                  
        Deletes everything after the enacting clause. Amends the Business      
   Corporation Act of 1983 and the General Not For Profit Corporation Act      
   of 1986. Provides that shareholders may participate in meetings             
   through the use of conference telephones or interactive technology un-      
   less such participation is specifically prohibited by the articles of       
   incorporation or by-laws.                                                   
        SENATE AMENDMENT NO. 2.                                                
        Replaces language providing  that  shareholders  or  members  may      
   participate  in and act at any meeting through the use of a conference      
   telephone or interactive technology with  language  providing  that  a      
   corporation  may  allow  shareholders or members to participate in and      
   act at any meeting through  the  use  of  a  conference  telephone  or      
   interactive technology.                                                     
 
Last action on Bill: PUBLIC ACT.............................. 92-0771

   Last action date: AUG-06-2002

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   2


   END OF INQUIRY 



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