Bill Status of HB 4361   99th General Assembly

Short Description:  LLC-VARIOUS

House Sponsors
Rep. Elaine Nekritz-Carol Sente

Senate Sponsors
(Sen. Don Harmon)


Last Action  View All Actions

DateChamber Action
  7/28/2016HousePublic Act . . . . . . . . . 99-0637

Statutes Amended In Order of Appearance
805 ILCS 180/1-5
805 ILCS 180/1-6 new
805 ILCS 180/1-30
805 ILCS 180/1-40
805 ILCS 180/1-46 new
805 ILCS 180/1-65 new
805 ILCS 180/5-5
805 ILCS 180/5-45
805 ILCS 180/5-47
805 ILCS 180/5-50
805 ILCS 180/10-1
805 ILCS 180/10-15
805 ILCS 180/13-5
805 ILCS 180/13-15 new
805 ILCS 180/13-20 new
805 ILCS 180/15-1
805 ILCS 180/15-3
805 ILCS 180/15-5
805 ILCS 180/15-7
805 ILCS 180/20-1
805 ILCS 180/20-5
805 ILCS 180/25-35
805 ILCS 180/Art. 30 heading
805 ILCS 180/30-5
805 ILCS 180/30-10
805 ILCS 180/30-20
805 ILCS 180/30-25 new
805 ILCS 180/35-1
805 ILCS 180/35-3
805 ILCS 180/35-4
805 ILCS 180/35-7
805 ILCS 180/35-15
805 ILCS 180/35-20
805 ILCS 180/35-37 new
805 ILCS 180/35-45
805 ILCS 180/35-55
805 ILCS 180/Art. 37 heading
805 ILCS 180/37-5
805 ILCS 180/37-10
805 ILCS 180/37-15
805 ILCS 180/37-16 new
805 ILCS 180/37-17 new
805 ILCS 180/37-20
805 ILCS 180/37-21 new
805 ILCS 180/37-25
805 ILCS 180/37-30
805 ILCS 180/37-31 new
805 ILCS 180/37-32 new
805 ILCS 180/37-33 new
805 ILCS 180/37-34 new
805 ILCS 180/37-36 new
805 ILCS 180/37-40
805 ILCS 180/50-1
805 ILCS 180/50-10
805 ILCS 180/55-1
805 ILCS 180/55-3 new
805 ILCS 180/35-60 rep.
805 ILCS 180/35-65 rep.
805 ILCS 180/35-70 rep.

Synopsis As Introduced
Amends the Limited Liability Company Act. Establishes distinctions between membership interests. Provides for the appointment of officers. Authorizes the use of oral operating agreements. Makes changes concerning electronic signatures. Makes changes regarding a member's right to information. Provides that members of limited liability company are not agents solely because of membership. Expands the scope of operating agreements. Makes changes concerning unauthorized distributions. Provides that creditors acquire only distributional rights. Requires judicial action for dissolution based upon illegality. Abolishes certain statutory buyout rights. Provides for domestication of foreign companies. Provides for conversion of business entities into other forms. Requires the filing of a post office address for service of process. Limits the ability of companies to transact business until an application is filed with the Secretary of State. Makes technical and other changes. Effective July 1, 2017.

Actions 
DateChamber Action
  12/14/2015HouseFiled with the Clerk by Rep. Elaine Nekritz
  1/13/2016HouseFirst Reading
  1/13/2016HouseReferred to Rules Committee
  2/23/2016HouseAssigned to Judiciary - Civil Committee
  4/6/2016HouseDo Pass / Short Debate Judiciary - Civil Committee; 011-000-000
  4/7/2016HousePlaced on Calendar 2nd Reading - Short Debate
  4/12/2016HouseSecond Reading - Short Debate
  4/12/2016HousePlaced on Calendar Order of 3rd Reading - Short Debate
  4/14/2016HouseThird Reading - Short Debate - Passed 112-000-001
  4/15/2016HouseAdded Chief Co-Sponsor Rep. Carol Sente
  4/18/2016SenateArrive in Senate
  4/18/2016SenatePlaced on Calendar Order of First Reading April 19, 2016
  4/18/2016SenateChief Senate Sponsor Sen. Don Harmon
  4/18/2016SenateFirst Reading
  4/18/2016SenateReferred to Assignments
  4/27/2016SenateAssigned to Judiciary
  5/4/2016SenateDo Pass Judiciary; 010-000-000
  5/4/2016SenatePlaced on Calendar Order of 2nd Reading May 5, 2016
  5/10/2016SenateSecond Reading
  5/10/2016SenatePlaced on Calendar Order of 3rd Reading May 11, 2016
  5/26/2016SenateThird Reading - Passed; 054-000-000
  5/26/2016HousePassed Both Houses
  6/24/2016HouseSent to the Governor
  7/28/2016HouseGovernor Approved
  7/28/2016HouseEffective Date July 1, 2017
  7/28/2016HousePublic Act . . . . . . . . . 99-0637

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