HB6498 96TH GENERAL ASSEMBLY

LRB096 21128 DRJ 36979 b

96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
HB6498

Introduced 2/18/2010, by Rep. Michael J. Madigan - Barbara Flynn Currie

SYNOPSIS AS INTRODUCED:

805 ILCS 315/7

from Ch. 32, par. 446

Amends the Agricultural Co-Operative Act. Makes a technical change in a Section concerning the members of a co-operative association.

A BILL FOR

AN ACT concerning business.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Agricultural Co-Operative Act is amended by changing Section 7 as follows:

(805 ILCS 315/7) (from Ch. 32, par. 446)

Sec. 7. Under the the terms and conditions prescribed in the by-laws adopted by it, an association may admit as members (or issue common stock to), only persons engaged in the production of agricultural products and/or co-operative associations. An association organized hereunder, may become a member or stockholder of any other association or corporation.

(Source: Laws 1931, p. 390.)