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

• Illinois Business Corporation Act of 1983. - 805 ILCS 5, Section 8.05
  Board of directors. (a) Except as provided in Article 2A of this Act, each corporation shall have a board of directors and the business...
• Illinois Business Corporation Act of 1983. - 805 ILCS 5, Section 8.10
  Number, election and resignation of directors. (a) The board of directors of a corporation shall consist of one or more members. The number of...
• Illinois Business Corporation Act of 1983. - 805 ILCS 5, Section 8.15
  Quorum of directors. (a) A majority of the number of directors fixed by the by-laws, or in the absence of a by-law fixing the...
• Illinois Business Corporation Act of 1983. - 805 ILCS 5, Section 8.20
  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 Business Corporation Act of 1983. - 805 ILCS 5, Section 8.25
  Notice of directors' meetings. Meetings of the board of directors shall be held upon such notice as the by-laws may prescribe. Attendance of a...
• Illinois Business Corporation Act of 1983. - 805 ILCS 5, Section 8.30
  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 Business Corporation Act of 1983. - 805 ILCS 5, Section 8.35
  Removal of directors. (a) One or more of the directors may be removed, with or without cause, at a meeting of shareholders by the...
• Illinois Business Corporation Act of 1983. - 805 ILCS 5, Section 8.40
  Committees. (a) If the articles of incorporation or by-laws so provide, a majority of the directors may create one or more committees, each to...
• Illinois Business Corporation Act of 1983. - 805 ILCS 5, Section 8.45
  Informal action by directors. (a) Unless specifically prohibited by the articles of incorporation or by-laws, any action required by this Act to be taken...
• Illinois Business Corporation Act of 1983. - 805 ILCS 5, Section 8.50
  Officers. A corporation shall have such officers as shall be provided in the by-laws, each of whom shall be elected by the board of...
• Illinois Business Corporation Act of 1983. - 805 ILCS 5, Section 8.55
  Removal of officers. Any officer or agent may be removed by the board of directors whenever in its judgment the best interests of the...
• Illinois Business Corporation Act of 1983. - 805 ILCS 5, Section 8.60
  Director conflict of interest. (a) If a transaction is fair to a corporation at the time it is authorized, approved, or ratified, the fact...
• Illinois Business Corporation Act of 1983. - 805 ILCS 5, Section 8.65
  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 Business Corporation Act of 1983. - 805 ILCS 5, Section 8.70
  Kickbacks, bribes, etc. -Liability of officers or directors. Any Corporate director or officer who commits commercial bribery or commercial bribe receiving as defined in Article...
• Illinois Business Corporation Act of 1983. - 805 ILCS 5, Section 8.75
  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 Business Corporation Act of 1983. - 805 ILCS 5, Section 8.85
  In discharging the duties of their respective positions, the board of directors, committees of the board, individual directors and individual officers may, in considering...

Last modified: February 18, 2015