Illinois Compiled Statutes 805 Business Organizations: Article 15 - Management

• Illinois Limited Liability Company Act. - 805 ILCS 180, Section 15-1
  Management of limited liability company. (a) In a member-managed company: (1) each member has equal rights in the management and conduct of the company's...
• Illinois Limited Liability Company Act. - 805 ILCS 180, Section 15-3
  General standards of member and manager's conduct. (a) The fiduciary duties a member owes to a member-managed company and its other members include the duty...
• Illinois Limited Liability Company Act. - 805 ILCS 180, Section 15-5
  Operating agreement. (a) All members of a limited liability company may enter into an operating agreement to regulate the affairs of the company and the...
• Illinois Limited Liability Company Act. - 805 ILCS 180, Section 15-7
  Member and manager's right to payments and reimbursement. (a) A limited liability company shall reimburse a member or manager for payments made and indemnify...
• Illinois Limited Liability Company Act. - 805 ILCS 180, Section 15-10
  (Repealed). (Source: P.A. 87-1062. Repealed by P.A. 90-424, eff. 1-1-98.)
• Illinois Limited Liability Company Act. - 805 ILCS 180, Section 15-15
  Discharge of duties; consideration. In discharging the duties of their respective positions, members and individual managers may, in considering the best long term and...
• Illinois Limited Liability Company Act. - 805 ILCS 180, Section 15-20
  Actions by members. (a) A member may maintain an action against a limited liability company or another member for legal or equitable relief, with...

Last modified: February 18, 2015