Public Act 094-1099
 		





SB2772 Enrolled
LRB094 18971 LCT 54438 b






    AN ACT concerning business.

 
    Be it enacted by the People of the State of Illinois,
 
represented in the General Assembly:

 
    Section 5. The Business Corporation Act of 1983  is amended  
by changing Section 2.35 as follows:
 



    (805 ILCS 5/2.35)  (from Ch. 32, par. 2.35)


    Sec. 2.35. Meetings of the board of directors of a 
residential
cooperative corporation containing 24 or more 
units shall be open to any
residential shareholder, except for 
the portion of any meeting held (i) to
discuss litigation when 
an action against or on behalf of the
corporation has been 
filed and is pending in a court or administrative
tribunal, or 
when the board of directors finds that such an action is

probable or imminent, (ii) to consider information regarding 
appointment,
employment or dismissal of an employee, or (iii) 
to discuss violations of
rules and regulations of the 
corporation by a residential shareholder.
Any residential 
shareholder
may record by tape, film or other means the 
proceedings at such meetings or
portions thereof required to be

open by this Section. The board may prescribe
reasonable rules 
and regulations to govern the right to make such
recordings. 
Notice of such meetings shall be mailed or delivered at
least 
48 hours prior thereto, unless a written waiver of such notice 
is
signed by the person or persons entitled to such notice 
pursuant to the
articles of incorporation, bylaws, or other 
instrument
before the meeting is convened. Copies
of notices of 
meetings of the board of directors shall be posted in

entranceways, elevators, or other conspicuous places in the 
residential
cooperative at least 48 hours prior to the meeting 
of the board of
directors. If there is no common entranceway 
for 7 or more
apartments, the board of directors may designate 
one or more locations in
the proximity of such units where the 
notices of meetings shall be posted.
For purposes of this 
Section, "meeting of the board of directors" means any

gathering of a quorum of the members of the board of directors 
of the
residential cooperative held for the purpose of 
discussing business of the
cooperative.
The provisions of this 
Section shall apply to any residential cooperative
containing 
24 or more units situated in the State of Illinois regardless 
of where
such cooperative may be incorporated.

(Source: P.A. 92-638, eff. 1-1-03.)


 
    Section 10. The General Not For Profit Corporation Act of 
1986 is amended  by changing Section 108.21 as follows:
 



    (805 ILCS 105/108.21)  (from Ch. 32, par. 108.21)



    Sec. 108.21. Meetings of the board of directors of a 
not-for-profit homeowners association or residential

cooperative not-for-profit corporation containing 24 or more 
units
shall be open to any member, except for the portion of 
any meeting held (i) to
discuss litigation when an action 
against or on behalf of the
corporation has been filed and is 
pending in a court or administrative
tribunal, or when the 
board of directors finds that such an action is
probable or 
imminent, (ii) to consider information regarding appointment,

employment or dismissal of an employee, or (iii) to discuss 
violations of
rules and regulations of the corporation by a 
residential shareholder.
Any member
may record by tape, film or 
other means the proceedings at such meetings or
portions 
thereof required to be
open by this Section. The board may 
prescribe
reasonable rules and regulations to govern the right 
to make such
recordings. Notice of such meetings shall be 
mailed or delivered at
least 48 hours prior thereto, unless a 
written waiver of such notice is
signed by the person or 
persons entitled to such notice pursuant to the
articles of 
incorporation, bylaws, other instrument
before the meeting is 
convened. Copies
of notices of meetings of the board of 
directors shall be posted in
entranceways, elevators, or other 
conspicuous places in the residential
cooperative at least 48 
hours prior to the meeting of the board of
directors. If there 
is no common entranceway for 7 or more
units
apartments, the 
board of directors may designate one or more locations in
the 
proximity of such units where the notices of meetings shall be 
posted.
For purposes of this Section, "meeting of the board of 
directors" means any
gathering of a quorum of the members of 
the board of directors of the
residential cooperative held for 
the purpose of discussing business of the
homeowners 
association or cooperative.
The provisions of this Section 
shall apply to any homeowners association or residential 
cooperative
containing 24 or more units
situated in the State 
of Illinois regardless of where
it
such cooperative may be 
incorporated.

(Source: P.A. 91-465, eff. 8-6-99; 92-638, eff. 1-1-03.)

 
    Section 99. Effective date. This Act takes effect upon 
becoming law.