Illinois Compiled Statutes 805 Business Organizations: Article -

• Illinois Agricultural Co-operative Act. - 805 ILCS 315, Section 1
  In order to promote, foster and encourage the intelligent and orderly marketing of agricultural products through co-operation; to eliminate speculation and waste; to make...
• Illinois Agricultural Co-operative Act. - 805 ILCS 315, Section 2
  Definitions and short title. (a) As used in this Act: The term "Director of Agriculture" means the Director of the Illinois Department of Agriculture...
• Illinois Agricultural Co-operative Act. - 805 ILCS 315, Section 3
  Eleven (11) or more persons, a majority of whom are residents of this State, engaged in the production of agricultural products, may form a...
• Illinois Agricultural Co-operative Act. - 805 ILCS 315, Section 4
  An association may be organized under this Act for the purpose of engaging in any co-operative activity in connection with the producing, marketing or...
• Illinois Agricultural Co-operative Act. - 805 ILCS 315, Section 5
  Every group of persons contemplating the organization of an association under this Act is urged to communicate with the Director of Agriculture, who will...
• Illinois Agricultural Co-operative Act. - 805 ILCS 315, Section 6
  Each association organized under this Act shall have the following powers: (a) To engage in any activity in connection with the producing, marketing, selling,...
• Illinois Agricultural Co-operative Act. - 805 ILCS 315, Section 7
  Under the terms and conditions prescribed in the by-laws adopted by it, an association may admit as members (or issue common stock to), only...
• Illinois Agricultural Co-operative Act. - 805 ILCS 315, Section 8
  Each association organized under this Act, shall prepare and file articles of incorporation, setting forth: (a) The name of the association which may or...
• Illinois Agricultural Co-operative Act. - 805 ILCS 315, Section 9
  The articles of incorporation may be altered or amended at any regular meeting, or any special meeting called for that purpose. An amendment may...
• Illinois Agricultural Co-operative Act. - 805 ILCS 315, Section 10
  Each association incorporated under this Act must, within thirty (30) days after its incorporation, adopt for its government and management, a code of by-laws,...
• Illinois Agricultural Co-operative Act. - 805 ILCS 315, Section 11
  In the by-laws, each association shall provide for one or more regular meetings annually. The board of directors shall have the right to call...
• Illinois Agricultural Co-operative Act. - 805 ILCS 315, Section 12
  The affairs of the association shall be managed by a board of not less than five directors, to be elected by the members or...
• Illinois Agricultural Co-operative Act. - 805 ILCS 315, Section 13
  The directors shall elect from their number, a president, and one or more vice-presidents. They shall also elect a secretary and treasurer, who need...
• Illinois Agricultural Co-operative Act. - 805 ILCS 315, Section 14
  Every officer, employee and agent handling funds or negotiable instruments or property of or for any association created hereunder shall be required to execute...
• Illinois Agricultural Co-operative Act. - 805 ILCS 315, Section 15
  When a member of an association organized without capital stock, has paid his membership fee in full, he shall receive a certificate of membership....
• Illinois Agricultural Co-operative Act. - 805 ILCS 315, Section 15.1
  An association may issue its shares of stock, having no par value, from time to time for such consideration as may be fixed by...
• Illinois Agricultural Co-operative Act. - 805 ILCS 315, Section 15.2
  No association shall issue stock until it has been fully paid for. Promissory notes may be accepted by the association as full or partial...
• Illinois Agricultural Co-operative Act. - 805 ILCS 315, Section 15.3
  No member shall be liable for the debts of the association to an amount exceeding the sum remaining unpaid on his membership fee or...
• Illinois Agricultural Co-operative Act. - 805 ILCS 315, Section 15.4
  No stockholder of an association, organized hereunder, except an association organized under this Act, or an association as defined in this Act or one...
• Illinois Agricultural Co-operative Act. - 805 ILCS 315, Section 15.5
  No member in any association without capital stock, shall be entitled to more than one vote. (Source: Laws 1967, p. 3777.)
• Illinois Agricultural Co-operative Act. - 805 ILCS 315, Section 15.6
  Preferred stock may be sold to any person, member, or non-member, and may be redeemable or retireable by the association, on such terms and...
• Illinois Agricultural Co-operative Act. - 805 ILCS 315, Section 15.7
  An association may, at any time, except when the debts of the association exceed 50 per cent of the assets thereof, buy in or...
• Illinois Agricultural Co-operative Act. - 805 ILCS 315, Section 15.8
  Limited Liability of directors. (a) No director of a corporation organized under this Act shall be liable, and no cause of action may be...
• Illinois Agricultural Co-operative Act. - 805 ILCS 315, Section 16
  Any member may bring charges against an officer or director by filing them in writing with the secretary of the association, together with a...
• Illinois Agricultural Co-operative Act. - 805 ILCS 315, Section 17
  Upon demand of one-third of the entire board of directors, made immediately and so recorded at the same meeting at which the original motion...
• Illinois Agricultural Co-operative Act. - 805 ILCS 315, Section 18
  The association and its members may make and execute marketing contracts, requiring the members to sell, for any period of time, all or any...
• Illinois Agricultural Co-operative Act. - 805 ILCS 315, Section 19
  (a) The by-laws or the marketing contract may fix, as liquidated damages, specific sums to be paid by the members or stockholders to the...
• Illinois Agricultural Co-operative Act. - 805 ILCS 315, Section 20
  Whenever an association, organized hereunder with preferred capital stock, shall purchase the stock or any property, or any interest in any property of any...
• Illinois Agricultural Co-operative Act. - 805 ILCS 315, Section 21
  Each association formed or authorized to do business in Illinois under this Act shall prepare and make out an annual report on forms prescribed...
• Illinois Agricultural Co-operative Act. - 805 ILCS 315, Section 22
  Any provisions of law which are in conflict with this Act shall be construed as not applying to the associations herein provided for. Any...
• Illinois Agricultural Co-operative Act. - 805 ILCS 315, Section 23
  An association may organize, form, operate, own, control, have an interest in, own stock of, or be a member of any other association or...
• Illinois Agricultural Co-operative Act. - 805 ILCS 315, Section 24
  Any association may, upon resolution adopted by its board of directors, enter into all necessary and proper contracts and agreements and make all necessary...
• Illinois Agricultural Co-operative Act. - 805 ILCS 315, Section 25
  Any co-operative association with or without capital stock as defined in this Act heretofore or hereafter organized under laws of another State shall be...
• Illinois Agricultural Co-operative Act. - 805 ILCS 315, Section 26
  Any corporation or association organized under any general or special Act of this State, shall have the benefits of this Act, and be bound...
• Illinois Agricultural Co-operative Act. - 805 ILCS 315, Section 27
  Any person who maliciously and knowingly spreads false reports about the finances or management or activity of an association organized hereunder or organized under...
• Illinois Agricultural Co-operative Act. - 805 ILCS 315, Section 28
  Any person, firm or corporation who solicits or persuades or permits any member of any association organized hereunder to breach his marketing contract with...
• Illinois Agricultural Co-operative Act. - 805 ILCS 315, Section 29
  No association as defined in this Act engaged in any of the activities herein, shall be deemed to be a conspiracy or combination in...
• Illinois Agricultural Co-operative Act. - 805 ILCS 315, Section 30
  If any section of this Act shall be declared unconstitutional for any reason, the remainder of this Act shall not be affected thereby. (Source:...
• Illinois Agricultural Co-operative Act. - 805 ILCS 315, Section 31
  Applicability of general corporation laws; mergers. (a) The provisions of the general corporation laws of this State, relating to corporations for pecuniary profit, and...
• Illinois Agricultural Co-operative Act. - 805 ILCS 315, Section 32
  Each year, within 6 months after the end of the association's fiscal year, each association organized or qualified to do business within this State...
• Illinois Agricultural Co-operative Act. - 805 ILCS 315, Section 33
  For filing articles of incorporation, an association organized hereunder shall pay $100; and for filing an amendment to the articles, $25. Fees for filing...

Last modified: February 18, 2015