Section 150.630  Shares Having a Par Value

The consideration received at the time of the issuance of shares or, in the case of shares issued as a share dividend, the amount added or transferred to the paid-in capital for or on account of the issuance of shares cannot be less than the aggregate par value of the shares issued, and at no time shall the paid-in capital be an amount less than the aggregate par value of all issued shares.

(Source:  Amended at 31 Ill. Reg. 9469, effective July 16, 2007)