Full Text of SB2772 94th General Assembly
SB2772ham001 94TH GENERAL ASSEMBLY
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Rep. Tom Cross
Filed: 3/23/2006
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09400SB2772ham001 |
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LRB094 18971 WGH 57218 a |
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| AMENDMENT TO SENATE BILL 2772
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| AMENDMENT NO. ______. Amend Senate Bill 2772 by replacing | 3 |
| everything after the enacting clause with the following:
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| "Section 5. The Business Corporation Act of 1983 is amended | 5 |
| by changing Section 2.35 as follows:
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| (805 ILCS 5/2.35) (from Ch. 32, par. 2.35)
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| 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
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| 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
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| 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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LRB094 18971 WGH 57218 a |
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| 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
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| 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
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| 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.
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| (Source: P.A. 92-638, eff. 1-1-03.)
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| Section 10. The General Not For Profit Corporation Act of | 19 |
| 1986 is amended by changing Section 108.21 as follows:
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| (805 ILCS 105/108.21) (from Ch. 32, par. 108.21)
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| Sec. 108.21. Meetings of the board of directors of a | 22 |
| not-for-profit homeowners association or residential
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| 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,
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| 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 |
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LRB094 18971 WGH 57218 a |
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| 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.
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| (Source: P.A. 91-465, eff. 8-6-99; 92-638, eff. 1-1-03.)
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| Section 99. Effective date. This Act takes effect upon | 27 |
| becoming law.".
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