Illinois Compiled Statutes 805 Business Organizations: Article -

• Illinois Co-operative Act. - 805 ILCS 310, Section 1
  Any 5 or more subscribers to the shares of the capital stock of a corporation to be organized under this Act who may be...
• Illinois Co-operative Act. - 805 ILCS 310, Section 2
  No person shall be permitted to subscribe for more than 10 shares of the capital stock of such association, nor shall any person be permitted...
• Illinois Co-operative Act. - 805 ILCS 310, Section 3
  Corporations organized under this act may provide in their by-laws that when a shareholder is desirous of disposing of his stock, he shall first...
• Illinois Co-operative Act. - 805 ILCS 310, Section 4
  Duplicate originals of the articles of incorporation shall be delivered to the Secretary of State. If the Secretary of State finds that the articles of...
• Illinois Co-operative Act. - 805 ILCS 310, Section 5
  Such corporations shall be required to file in the office of the Secretary of State the same reports and to pay to him the...
• Illinois Co-operative Act. - 805 ILCS 310, Section 6
  Associations formed under this act shall be bodies corporate and politic for the period for which they are organized, may sue and be sued,...
• Illinois Co-operative Act. - 805 ILCS 310, Section 7
  Every such association shall be managed by a board of not less than 5 directors. The directors shall be elected by and from the...
• Illinois Co-operative Act. - 805 ILCS 310, Section 8
  The association may amend its articles of incorporation by a two-thirds vote of its shareholders at any regular shareholders' meeting called for that purpose,...
• Illinois Co-operative Act. - 805 ILCS 310, Section 9
  No shareholder in any association shall own more than 10 shares nor of a greater aggregate par value than $10,000, except as hereinafter provided. (Source:...
• Illinois Co-operative Act. - 805 ILCS 310, Section 10
  At any regular or special meeting, legally called, an association organized under this Act or as a co-operative association under "The General Corporation Act",...
• Illinois Co-operative Act. - 805 ILCS 310, Section 11
  Whenever an association created under this act shall purchase the business of another association, person or persons, it may pay for the same in...
• Illinois Co-operative Act. - 805 ILCS 310, Section 12
  In case the cash value of such purchased business exceeds five hundred dollars, the directors of the association are authorized to hold the shares...
• Illinois Co-operative Act. - 805 ILCS 310, Section 13
  Corporations organized under this Act may borrow money at legal rates of interest and pledge their property, both real and personal, to secure payment...
• Illinois Co-operative Act. - 805 ILCS 310, Section 14
  At any regularly called general or special meeting of the shareholders a written vote received by mail from any absent shareholder and signed by...
• Illinois Co-operative Act. - 805 ILCS 310, Section 15
  So much of the profits or earnings of such association, as may seem best to the directors, shall be distributed to those entitled thereto...
• Illinois Co-operative Act. - 805 ILCS 310, Section 16
  Every association organized under the terms of this Act shall annually, on or before the first day of March of each year, make a...
• Illinois Co-operative Act. - 805 ILCS 310, Section 17
  All co-operative corporations and joint stock corporations, companies, associations, voluntary unincorporated associations or partnerships heretofore organized under prior statutes, or who shall be doing...
• Illinois Co-operative Act. - 805 ILCS 310, Section 18
  All stock subscribed for shall be paid for within one year and in default thereof shall be forfeited with the payments made thereon to...
• Illinois Co-operative Act. - 805 ILCS 310, Section 19
  The by-laws shall provide that the profits shall be distributed, first-upon stock and to purchasers or sellers (customers) based upon the percentage of purchases,...
• Illinois Co-operative Act. - 805 ILCS 310, Section 20
  Societies incorporated under this Act may purchase and own stock in other societies incorporated under this Act, or similar Co-operative Acts of other States,...
• Illinois Co-operative Act. - 805 ILCS 310, Section 21
  Shareholders may vote in person or by written proxy. (Source: Laws 1915, p. 325.)
• Illinois Co-operative Act. - 805 ILCS 310, Section 22
  No corporation or association hereafter organized or doing business for profit in this State shall be entitled to use the term "Co-operative" as a part...
• Illinois Co-operative Act. - 805 ILCS 310, Section 23
  Every assignment or transfer of stock shall be recorded in the books of the association, and each shareholder shall be liable jointly with the...
• Illinois Co-operative Act. - 805 ILCS 310, Section 24
  Shareholders at any regular meeting or any special meeting called for that purpose may adopt by-laws not inconsistent with the provisions of this Act....
• Illinois Co-operative Act. - 805 ILCS 310, Section 25
  The invalidity of any portion of this Act shall in no way affect the validity of any other portion thereof which can be given...
• Illinois Co-operative Act. - 805 ILCS 310, Section 26
  This Act may be cited as the "Co-operative Act." (Source: Laws 1915, p. 325.)
• Illinois Co-operative Act. - 805 ILCS 310, Section 27
  The Secretary of State shall provide uniform blanks for the use of associations incorporated under this Act. (Source: Laws 1915, p. 325.)

Last modified: February 18, 2015