SB1501 103RD GENERAL ASSEMBLY

  
  

 


 
103RD GENERAL ASSEMBLY
State of Illinois
2023 and 2024
SB1501

 

Introduced 2/7/2023, by Sen. Adriane Johnson

 

SYNOPSIS AS INTRODUCED:
 
805 ILCS 105/114.05  from Ch. 32, par. 114.05
805 ILCS 105/114.15 new

    Amends the General Not For Profit Corporation Act of 1986. Provides that in its annual report filed with the Secretary of State, a domestic or foreign corporation shall include the aggregated demographic information of its directors and officers, including race, ethnicity, gender, disability status, veteran status, sexual orientation, and gender identity. Provides that no later than 30 calendar days after filing the annual report with the Secretary of State, a corporation shall post to the corporation's publicly available website, if one exists, the aggregated demographic information of the corporation's directors and officers. Effective January 1, 2024.


LRB103 28340 SPS 54719 b

 

 

A BILL FOR

 

SB1501LRB103 28340 SPS 54719 b

1    AN ACT concerning business.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The General Not For Profit Corporation Act of
51986 is amended by changing Section 114.05 and by adding
6Section 114.15 as follows:
 
7    (805 ILCS 105/114.05)  (from Ch. 32, par. 114.05)
8    Sec. 114.05. Annual report of domestic or foreign
9corporation. Each domestic corporation organized under this
10Act, and each foreign corporation authorized to conduct
11affairs in this State, shall file, within the time prescribed
12by this Act, an annual report setting forth:
13        (a) The name of the corporation.
14        (b) The address, including street and number, or rural
15    route number, of its registered office in this State, and
16    the name of its registered agent at such address.
17        (c) The address, including street and number, or rural
18    route number, of its principal office.
19        (d) The names and respective addresses, including
20    street and number, or rural route number, of its directors
21    and officers.
22        (e) A brief statement of the character of the affairs
23    which the corporation is actually conducting from among

 

 

SB1501- 2 -LRB103 28340 SPS 54719 b

1    the purposes authorized in Section 103.05 of this Act.
2        (f) Whether the corporation is a Condominium
3    Association as established under the Condominium Property
4    Act, a Cooperative Housing Corporation defined in Section
5    216 of the Internal Revenue Code of 1954 or a Homeowner
6    Association which administers a common-interest community
7    as defined in subsection (c) of Section 9-102 of the Code
8    of Civil Procedure.
9        (g) Such additional information as may be necessary or
10    appropriate in order to enable the Secretary of State to
11    administer this Act and to verify the proper amount of
12    fees payable by the corporation.
13        (h) The aggregated demographic information of the
14    corporation's directors and officers, including race,
15    ethnicity, gender, disability status, veteran status,
16    sexual orientation, and gender identity.
17    Such annual report shall be made on forms prescribed and
18furnished by the Secretary of State, and the information
19therein required by subsections (a) to (d), both inclusive,
20and subsection (h) of this Section, shall be given as of the
21date of the execution of the annual report. It shall be
22executed by the corporation by any authorized officer and
23verified by him or her, or, if the corporation is in the hands
24of a receiver or trustee, it shall be executed on behalf of the
25corporation and verified by such receiver or trustee.
26(Source: P.A. 101-578, eff. 8-26-19.)
 

 

 

SB1501- 3 -LRB103 28340 SPS 54719 b

1    (805 ILCS 105/114.15 new)
2    Sec. 114.15. Posting demographic information. No later
3than 30 calendar days after filing the annual report with the
4Secretary of State, a corporation shall post to the
5corporation's publicly available website, if one exists, the
6aggregated demographic information of the corporation's
7directors and officers as described in subsection (h) of
8Section 114.05. The aggregated demographic information shall
9be accessible on the corporation's publicly available website
10for at least 5 years after it is posted. A corporation that
11posts the full annual report on its website fulfills this
12posting requirement.
 
13    Section 99. Effective date. This Act takes effect January
141, 2024.