Illinois Compiled Statutes 805 Business Organizations: Article 8 - Directors And Officers

• Illinois General Not for Profit Corporation Act of 1986. - 805 ILCS 105, Section 108.05
  Board of directors. (a) Each corporation shall have a board of directors, and except as provided in articles of incorporation, the affairs of the corporation...
• Illinois General Not for Profit Corporation Act of 1986. - 805 ILCS 105, Section 108.10
  Number, election and resignation of directors. (a) The board of directors of a corporation shall consist of three or more directors. The number of directors...
• Illinois General Not for Profit Corporation Act of 1986. - 805 ILCS 105, Section 108.15
  Quorum of directors. (a) Unless otherwise provided in the articles of incorporation or the bylaws, a majority of the directors then in office shall...
• Illinois General Not for Profit Corporation Act of 1986. - 805 ILCS 105, Section 108.20
  Place of directors' meetings. Regular or special meetings of the board of directors may be held either within or without this State. (Source: P.A.
• Illinois General Not for Profit Corporation Act of 1986. - 805 ILCS 105, Section 108.21
  Meetings of the board of directors of a not-for-profit homeowners association or residential cooperative not-for-profit corporation shall be open to any member, except for the...
• Illinois General Not for Profit Corporation Act of 1986. - 805 ILCS 105, Section 108.25
  Notice of directors' meetings. Meetings of the board of directors shall be held upon such notice as the bylaws may prescribe. Attendance of a...
• Illinois General Not for Profit Corporation Act of 1986. - 805 ILCS 105, Section 108.30
  Vacancies. Any vacancy occurring in the board of directors and any directorship to be filled by reason of an increase in the number of...
• Illinois General Not for Profit Corporation Act of 1986. - 805 ILCS 105, Section 108.35
  Removal of directors. (a) One or more of the directors may be removed, with or without cause. In the case of a corporation having a...
• Illinois General Not for Profit Corporation Act of 1986. - 805 ILCS 105, Section 108.40
  Committees. (a) If the articles of incorporation or bylaws so provide, a majority of the directors may create one or more committees and appoint...
• Illinois General Not for Profit Corporation Act of 1986. - 805 ILCS 105, Section 108.45
  Informal action by directors. (a) Unless specifically prohibited by the articles of incorporation or bylaws, any action required by this Act to be taken at...
• Illinois General Not for Profit Corporation Act of 1986. - 805 ILCS 105, Section 108.50
  Officers. (a) A corporation shall have such officers as shall be provided in the bylaws. Officers and assistant officers and agents as may be...
• Illinois General Not for Profit Corporation Act of 1986. - 805 ILCS 105, Section 108.55
  Removal of Officers. Any officer or agent may be removed by the board of directors or other persons authorized to elect or appoint such...
• Illinois General Not for Profit Corporation Act of 1986. - 805 ILCS 105, Section 108.60
  Director conflict of interest. (a) If a transaction is fair to a corporation at the time it is authorized, approved, or ratified, the fact that...
• Illinois General Not for Profit Corporation Act of 1986. - 805 ILCS 105, Section 108.65
  Liability of directors in certain cases. (a) In addition to any other liabilities imposed by law upon directors of a corporation, they are liable as...
• Illinois General Not for Profit Corporation Act of 1986. - 805 ILCS 105, Section 108.70
  Limited Liability of directors, officers, board members, and persons who serve without compensation. (a) No director or officer serving without compensation, other than reimbursement for...
• Illinois General Not for Profit Corporation Act of 1986. - 805 ILCS 105, Section 108.75
  Indemnification of officers, directors, employees and agents; insurance. (a) A corporation may indemnify any person who was or is a party, or is threatened to...
• Illinois General Not for Profit Corporation Act of 1986. - 805 ILCS 105, Section 108.80
  Prohibited loans to directors and officers. Except as permitted by subsection (e) of Section 108.75, no loan shall be made by a corporation to...
• Illinois General Not for Profit Corporation Act of 1986. - 805 ILCS 105, Section 108.85
  Act not exclusive. This Act is not an exclusive statement of the duties and responsibilities of directors and officers. Directors and officers are subject...

Last modified: February 18, 2015