Rep. Tom Cross

Filed: 3/23/2006

 

 


 

 


 
09400SB2772ham001 LRB094 18971 WGH 57218 a

1
AMENDMENT TO SENATE BILL 2772

2     AMENDMENT NO. ______. Amend Senate Bill 2772 by replacing
3 everything after the enacting clause with the following:
 
4     "Section 5. The Business Corporation Act of 1983 is amended
5 by changing Section 2.35 as follows:
 
6     (805 ILCS 5/2.35)  (from Ch. 32, par. 2.35)
7     Sec. 2.35. Meetings of the board of directors of a
8 residential cooperative corporation containing 24 or more
9 units shall be open to any residential shareholder, except for
10 the portion of any meeting held (i) to discuss litigation when
11 an action against or on behalf of the corporation has been
12 filed and is pending in a court or administrative tribunal, or
13 when the board of directors finds that such an action is
14 probable or imminent, (ii) to consider information regarding
15 appointment, employment or dismissal of an employee, or (iii)
16 to discuss violations of rules and regulations of the
17 corporation by a residential shareholder. Any residential
18 shareholder may record by tape, film or other means the
19 proceedings at such meetings or portions thereof required to be
20 open by this Section. The board may prescribe reasonable rules
21 and regulations to govern the right to make such recordings.
22 Notice of such meetings shall be mailed or delivered at least
23 48 hours prior thereto, unless a written waiver of such notice
24 is signed by the person or persons entitled to such notice

 

 

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1 pursuant to the articles of incorporation, bylaws, or other
2 instrument before the meeting is convened. Copies of notices of
3 meetings of the board of directors shall be posted in
4 entranceways, elevators, or other conspicuous places in the
5 residential cooperative at least 48 hours prior to the meeting
6 of the board of directors. If there is no common entranceway
7 for 7 or more apartments, the board of directors may designate
8 one or more locations in the proximity of such units where the
9 notices of meetings shall be posted. For purposes of this
10 Section, "meeting of the board of directors" means any
11 gathering of a quorum of the members of the board of directors
12 of the residential cooperative held for the purpose of
13 discussing business of the cooperative. The provisions of this
14 Section shall apply to any residential cooperative containing
15 24 or more units situated in the State of Illinois regardless
16 of where such cooperative may be incorporated.
17 (Source: P.A. 92-638, eff. 1-1-03.)
 
18     Section 10. The General Not For Profit Corporation Act of
19 1986 is amended by changing Section 108.21 as follows:
 
20     (805 ILCS 105/108.21)  (from Ch. 32, par. 108.21)
21     Sec. 108.21. Meetings of the board of directors of a
22 not-for-profit homeowners association or residential
23 cooperative not-for-profit corporation containing 24 or more
24 units shall be open to any member, except for the portion of
25 any meeting held (i) to discuss litigation when an action
26 against or on behalf of the corporation has been filed and is
27 pending in a court or administrative tribunal, or when the
28 board of directors finds that such an action is probable or
29 imminent, (ii) to consider information regarding appointment,
30 employment or dismissal of an employee, or (iii) to discuss
31 violations of rules and regulations of the corporation by a
32 residential shareholder. Any member may record by tape, film or

 

 

09400SB2772ham001 - 3 - LRB094 18971 WGH 57218 a

1 other means the proceedings at such meetings or portions
2 thereof required to be open by this Section. The board may
3 prescribe reasonable rules and regulations to govern the right
4 to make such recordings. Notice of such meetings shall be
5 mailed or delivered at least 48 hours prior thereto, unless a
6 written waiver of such notice is signed by the person or
7 persons entitled to such notice pursuant to the articles of
8 incorporation, bylaws, other instrument before the meeting is
9 convened. Copies of notices of meetings of the board of
10 directors shall be posted in entranceways, elevators, or other
11 conspicuous places in the residential cooperative at least 48
12 hours prior to the meeting of the board of directors. If there
13 is no common entranceway for 7 or more units apartments, the
14 board of directors may designate one or more locations in the
15 proximity of such units where the notices of meetings shall be
16 posted. For purposes of this Section, "meeting of the board of
17 directors" means any gathering of a quorum of the members of
18 the board of directors of the residential cooperative held for
19 the purpose of discussing business of the homeowners
20 association or cooperative. The provisions of this Section
21 shall apply to any homeowners association or residential
22 cooperative containing 24 or more units situated in the State
23 of Illinois regardless of where it such cooperative may be
24 incorporated.
25 (Source: P.A. 91-465, eff. 8-6-99; 92-638, eff. 1-1-03.)
 
26     Section 99. Effective date. This Act takes effect upon
27 becoming law.".