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1 | AN ACT concerning business.
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2 | Be it enacted by the People of the State of Illinois,
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3 | represented in the General Assembly:
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4 | Section 5. The Limited Liability Company Act is amended by | ||||||
5 | changing Section 1-25 as follows:
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6 | (805 ILCS 180/1-25)
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7 | Sec. 1-25. Nature of business. A limited liability company | ||||||
8 | may be formed
for any lawful purpose or business except:
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9 | (1) (blank);
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10 | (2) insurance unless, for the purpose of carrying on | ||||||
11 | business as a member
of a group including incorporated and | ||||||
12 | individual unincorporated underwriters,
the Director of | ||||||
13 | Insurance finds that the group meets the requirements of
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14 | subsection (3) of Section 86 of the Illinois Insurance Code | ||||||
15 | and the limited
liability company, if insolvent, is subject | ||||||
16 | to liquidation by the Director of
Insurance under Article | ||||||
17 | XIII of the Illinois Insurance Code;
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18 | (3) the practice of dentistry unless all the members | ||||||
19 | and managers are
licensed as dentists under the Illinois | ||||||
20 | Dental Practice Act; or
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21 | (4) the practice of medicine unless all the managers, | ||||||
22 | if any, are
licensed to practice medicine under the Medical | ||||||
23 | Practice Act of 1987 and each
member is either:
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1 | (A) licensed to practice medicine under the | ||||||
2 | Medical Practice Act of
1987; or
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3 | (B) a registered medical corporation or | ||||||
4 | corporations organized pursuant
to the Medical | ||||||
5 | Corporation Act; or
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6 | (C) a professional corporation organized pursuant | ||||||
7 | to the Professional
Service Corporation Act of | ||||||
8 | physicians licensed to practice medicine in all
its | ||||||
9 | branches; or
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10 | (D) a limited liability company that satisfies the | ||||||
11 | requirements of
subparagraph (A), (B), or (C).
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12 | A limited liability company shall not open, operate, or | ||||||
13 | maintain an establishment for any of the purposes for which a | ||||||
14 | limited liability company may be organized under this Act | ||||||
15 | without a certificate of registration from the Department of | ||||||
16 | Financial and Professional Regulation authorized by law to | ||||||
17 | license individuals to engage in the profession or related | ||||||
18 | professions concerned, for the professions as provided in | ||||||
19 | paragraphs (3) and (4) of this Section or in any licensing Act | ||||||
20 | administered by the Department in which any licensee intending | ||||||
21 | to incorporate is limited to incorporating as a professional | ||||||
22 | corporation. Application for such registration shall be made in | ||||||
23 | writing and shall contain the name and address of the limited | ||||||
24 | liability company and such other information as may be required | ||||||
25 | by the Department. Upon receipt of such application, the | ||||||
26 | Department shall make an investigation of the limited liability |
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1 | company. If the Department finds that the organizers, managers, | ||||||
2 | and members are each licensed pursuant to the laws of Illinois | ||||||
3 | to engage in the particular profession or related professions | ||||||
4 | involved (except that an initial organizer may be a licensed | ||||||
5 | attorney) and if no disciplinary action is pending before the | ||||||
6 | Department against any of them and if it appears that the | ||||||
7 | limited liability company will be conducted in compliance with | ||||||
8 | the law and the rules and regulations of the Department, the | ||||||
9 | Department shall issue, upon payment of a registration fee of | ||||||
10 | $50, a certificate of registration.
Upon written application of | ||||||
11 | the holder, the Department shall renew the certificate if it | ||||||
12 | finds that the limited liability company has complied with its | ||||||
13 | regulations and the provisions of this Act and the applicable | ||||||
14 | licensing Act. This fee for the renewal of a certificate of | ||||||
15 | registration shall be calculated at the rate of $40 per year.
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16 | The certificate of registration shall be conspicuously posted | ||||||
17 | upon the premises to which it is applicable, and the limited | ||||||
18 | liability company shall have only those offices which are | ||||||
19 | designated by street address in the articles of organization, | ||||||
20 | or as changed by amendment of such articles. A certificate of | ||||||
21 | registration shall not be assignable. | ||||||
22 | Notwithstanding any other rulemaking authority that may | ||||||
23 | exist, neither the Governor nor any agency or agency head under | ||||||
24 | the jurisdiction of the Governor has any authority to make or | ||||||
25 | promulgate rules to implement or enforce the provisions of this | ||||||
26 | amendatory Act of the 95th General Assembly. If, however, the |
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1 | Governor believes that rules are necessary to implement or | ||||||
2 | enforce the provisions of this amendatory Act of the 95th | ||||||
3 | General Assembly, the Governor may suggest rules to the General | ||||||
4 | Assembly by filing them with the Clerk of the House and the | ||||||
5 | Secretary of the Senate and by requesting that the General | ||||||
6 | Assembly authorize such rulemaking by law, enact those | ||||||
7 | suggested rules into law, or take any other appropriate action | ||||||
8 | in the General Assembly's discretion. Nothing contained in this | ||||||
9 | amendatory Act of the 95th General Assembly shall be | ||||||
10 | interpreted to grant rulemaking authority under any other | ||||||
11 | Illinois statute where such authority is not otherwise | ||||||
12 | explicitly given. For the purposes of this Section, "rules" is | ||||||
13 | given the meaning contained in Section 1-70 of the Illinois | ||||||
14 | Administrative Procedure Act, and "agency" and "agency head" | ||||||
15 | are given the meanings contained in Sections 1-20 and 1-25 of | ||||||
16 | the Illinois Administrative Procedure Act to the extent that | ||||||
17 | such definitions apply to agencies or agency heads under the | ||||||
18 | jurisdiction of the Governor. | ||||||
19 | (Source: P.A. 95-331, eff. 8-21-07.)
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