(805 ILCS 5/7.65) (from Ch. 32, par. 7.65)

Sec. 7.65.

Voting trust.

(a) One or more shareholders may create a voting trust for the purpose of conferring upon
a trustee or trustees the right to
vote or otherwise represent their shares
for a stated duration, which may be perpetual or for a fixed period or may be
determined by the occurrence of a stated condition or conditions, by entering into a written voting trust agreement specifying the
terms and conditions of the voting trust, and by transferring the subject shares
to such trustee or trustees pursuant to the
agreement.
If the agreement or any amendment thereto does not contain a stated duration,
the trust shall terminate 10 years after the agreement first became
effective.

(b) No voting trust agreement shall be
effective until a counterpart of the
agreement is deposited at the corporation's registered office. The
counterpart of the voting trust agreement so deposited
shall be subject to examination as provided in
Section 7.75 by any
holder of a beneficial interest in the voting trust as if that holder were a
shareholder.

(c) The rule against perpetuities does not apply to any voting trust
created in accordance with this Section.

(d) Every voting trust agreement entered into pursuant to this Section is
specifically enforceable in accordance with the principles of equity.

(e) The changes made by this amendatory Act of the 91st General Assembly
apply only to voting trust agreements that are:

(1) entered into after the effective date of this amendatory Act of the 91st General