Date	Chamber	Action
1/13/2021	Senate	Session Sine Die

Statutes Amended In Order of Appearance

805 ILCS 180/10-10

805 ILCS 180/15-5

Synopsis As Introduced
Amends the Limited Liability Company Act. Deletes a provision that provides that all or specified members of a limited liability company are liable in their capacity as members for all or specified debts, obligations, or liabilities of the company if: (i) a provision to that effect is contained in the articles of organization and (ii) a member so liable has consented in writing to the adoption of the provision or to be bound by the provision. Provides that with respect to imposing liability upon a member because of a member's personal conduct, nothing in the Act shall be deemed to limit the effect of law other than the Act. Provides that a limited liability company's operating agreement may not restrict the duty to act fairly as described in the Act. Provides that the operating agreement may identify the standards by which the obligation to act fairly is measured.

Actions 

Date	Chamber	Action
2/15/2019	Senate	Filed with Secretary by Sen. Don Harmon
2/15/2019	Senate	First Reading
2/15/2019	Senate	Referred to Assignments
2/27/2019	Senate	Assigned to Judiciary
3/5/2019	Senate	Do Pass Judiciary; 009-000-000
3/5/2019	Senate	Placed on Calendar Order of 2nd Reading
4/9/2019	Senate	Second Reading
4/9/2019	Senate	Placed on Calendar Order of 3rd Reading April 10, 2019
4/12/2019	Senate	Rule 3-9(a) / Re-referred to Assignments
2/25/2020	Senate	Chief Sponsor Changed to Sen. Rachelle Crowe
1/13/2021	Senate	Session Sine Die

Back To Top