093_SB1491 LRB093 05979 MBS 11349 b 1 AN ACT concerning business organizations. 2 Be it enacted by the People of the State of Illinois, 3 represented in the General Assembly: 4 Section 5. The Medical Corporation Act is amended by 5 changing Section 13 as follows: 6 (805 ILCS 15/13) (from Ch. 32, par. 643) 7 Sec. 13. All of the officers, directors and shareholders 8 of a corporation subject to this Act shall at all times be 9 persons licensed pursuant to the Medical Practice Act of 10 1987, the Physician Assistant Practice Act of 1987, the 11 Podiatric Medical Practice Act of 1987, or, if an officer, 12 director, or shareholder is an advanced practice nurse, the 13 Nursing and Advanced Practice Nursing Act. No person who is 14 not so licensed shall have any part in the ownership, 15 management, or control of such corporation, nor may any proxy 16 to vote any shares of such corporation be given to a person 17 who is not so licensed. Notwithstanding any provisions to the 18 contrary in the "Business Corporation Act of 1983", as now or 19 hereafter amended, if all of the shares of a corporation 20 subject to this Act are owned by one shareholder, the office 21 of president and secretary may be held by the same person. 22 (Source: P.A. 85-1209.) 23 Section 99. Effective date. This Act takes effect upon 24 becoming law.