(805 ILCS 105/103.05) (from Ch. 32, par. 103.05)
Sec. 103.05. Purposes and authority of corporations; particular purposes; exemptions.
(a) Not-for-profit corporations may be organized under this Act for any one or more of the following or similar purposes:
(1) Charitable.
(2) Benevolent.
(3) Eleemosynary.
(4) Educational.
(5) Civic.
(6) Patriotic.
(7) Political.
(8) Religious.
(9) Social.
(10) Literary.
(11) Athletic.
(12) Scientific.
(13) Research.
(14) Agricultural.
(15) Horticultural.
(16) Soil improvement.
(17) Crop improvement.
(18) Livestock or poultry improvement.
(19) Professional, commercial, industrial, or trade
association.
(20) Promoting the development, establishment, or
expansion of industries.
(21) Electrification on a cooperative basis.
(22) Telephone service on a mutual or cooperative
basis.
(23) Ownership and operation of water supply
facilities for drinking and general domestic use on a mutual or cooperative basis.
(24) Ownership or administration of residential
property on a cooperative basis.
(25) Administration and operation of property owned
on a condominium basis or by a homeowner association.
(26) Administration and operation of an organization
on a cooperative basis producing or furnishing goods, services, or facilities primarily for the benefit of its members who are consumers of those goods, services, or facilities.
(27) Operation of a community mental health board or
center organized pursuant to the Community Mental Health Act for the purpose of providing direct patient services.
(28) Provision of debt management services as
authorized by the Debt Management Service Act.
(29) Promotion, operation, and administration of a
ridesharing arrangement as defined in Section 1-176.1 of the Illinois Vehicle Code.
(30) The administration and operation of an
organization for the purpose of assisting low-income consumers in the acquisition of utility and telephone services.
(31) Any purpose permitted to be exempt from taxation
under Sections 501(c) or 501(d) of the United States Internal Revenue Code, as now in or hereafter amended.
(32) Any purpose that would qualify for
tax-deductible gifts under the Section 170(c) of the United States Internal Revenue Code, as now or hereafter amended. Any such purpose is deemed to be charitable under subsection (a)(1) of this Section.
(33) Furnishing of natural gas on a cooperative
basis.
(34) Ownership and operation of agriculture-based
biogas (anaerobic digester) systems on a cooperative basis including the marketing and sale of products produced from these, including but not limited to methane gas, electricity, and compost.
(b) A corporation may be organized hereunder to serve in an area that adjoins or borders (except for any intervening natural watercourse) an area located in an adjoining state intended to be similarly served, and the corporation may join any corporation created by the adjoining state having an identical purpose and organized as a not-for-profit corporation. Whenever any corporation organized under this Act so joins with a foreign corporation having an identical purpose, the corporation shall be permitted to do business in Illinois as one corporation; provided (1) that the name, bylaw provisions, officers, and directors of each corporation are identical, (2) that the foreign corporation complies with the provisions of this Act relating to the admission of foreign corporation, and (3) that the Illinois corporation files a statement with the Secretary of State indicating that it has joined with a foreign corporation setting forth the name thereof and the state of its incorporation.
(Source: P.A. 98-317, eff. 8-12-13.)
Sections: 103.05 103.10 103.12 103.15 103.20 103.25 103.30 103.35 Next
Last modified: February 18, 2015