Illinois Compiled Statutes 805 Business Organizations: Article 2A - Close Corporations

• Illinois Business Corporation Act of 1983. - 805 ILCS 5, Section 2A.05
  Formation of a close corporation. A close corporation shall be formed in accordance with the provisions of this Act, except its articles of incorporation...
• Illinois Business Corporation Act of 1983. - 805 ILCS 5, Section 2A.10
  Election of existing corporation to become a close corporation. Any corporation whose issued and outstanding shares are subject, or upon election shall be subject, to...
• Illinois Business Corporation Act of 1983. - 805 ILCS 5, Section 2A.13
  Effect of formation or election. A corporation formed under the provisions of Section 2A.05 or electing to be treated as a close corporation under...
• Illinois Business Corporation Act of 1983. - 805 ILCS 5, Section 2A.15
  Limitations on continuation of close corporation status. A close corporation continues to be such and to be subject to this Article until: (1) It...
• Illinois Business Corporation Act of 1983. - 805 ILCS 5, Section 2A.20
  Voluntary termination of close corporation status by amendment of articles of incorporation; vote required. (a) A corporation may voluntarily terminate its status as a...
• Illinois Business Corporation Act of 1983. - 805 ILCS 5, Section 2A.25
  Issuance or transfer of shares of a close corporation in breach of qualifying conditions. (a) Every certificate representing shares issued by a close corporation...
• Illinois Business Corporation Act of 1983. - 805 ILCS 5, Section 2A.30
  Involuntary termination of close corporation status; proceeding to prevent loss of status. (a) If any event occurs that results in the breach of one...
• Illinois Business Corporation Act of 1983. - 805 ILCS 5, Section 2A.31
  Corporate option where a restriction on transfer of shares is held invalid. If a restriction on transfer of shares of close corporation is held...
• Illinois Business Corporation Act of 1983. - 805 ILCS 5, Section 2A.40
  Written agreements as to conduct of certain affairs of corporation. (a) All shareholders of a close corporation may enter into a written agreement, relating...
• Illinois Business Corporation Act of 1983. - 805 ILCS 5, Section 2A.45
  Management by shareholders. (a) The articles of incorporation of a close corporation may provide that the business of the corporation shall be managed by...
• Illinois Business Corporation Act of 1983. - 805 ILCS 5, Section 2A.50
  Shareholders' option to dissolve corporation. (a) The articles of incorporation of any close corporation may include a provision granting to any shareholder, or to...
• Illinois Business Corporation Act of 1983. - 805 ILCS 5, Section 2A.55
  Dissolution. Subject to Section 2A.50, the provisions of Article 12 shall apply to the dissolution of a close corporation. (Source: P.A. 86-1328.)
• Illinois Business Corporation Act of 1983. - 805 ILCS 5, Section 2A.60
  Applicability. (a) Any corporation organized and existing under The Close Corporation Act on the effective date of this amendatory Act of 1990 shall be...

Last modified: February 18, 2015