Full Text of HB5070 95th General Assembly
HB5070eng 95TH GENERAL ASSEMBLY
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LRB095 15075 RLC 41035 b |
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| AN ACT concerning business.
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| Be it enacted by the People of the State of Illinois,
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| represented in the General Assembly:
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| Section 5. The Limited Liability Company Act is amended by | 5 |
| changing Section 1-25 as follows:
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| (805 ILCS 180/1-25)
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| 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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| (1) (blank);
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| (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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| 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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| (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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| (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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| (A) licensed to practice medicine under the | 2 |
| Medical Practice Act of
1987; or
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| (B) a registered medical corporation or | 4 |
| corporations organized pursuant
to the Medical | 5 |
| Corporation Act; or
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| (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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| (D) a limited liability company that satisfies the | 11 |
| requirements of
subparagraph (A), (B), or (C).
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| 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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| 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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| 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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| 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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