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90_SB1020sam002
LRB9003480NTdvam01
1 AMENDMENT TO SENATE BILL 1020
2 AMENDMENT NO. . Amend Senate Bill 1020, AS AMENDED,
3 with reference to page and line numbers of Senate Amendment
4 No. 1 as follows:
5 on page 35, by replacing lines 15 and 16 with the following:
6 "determine whether a dissociation is wrongful under Section
7 35-50, and it may eliminate or vary the obligation of the
8 limited"; and
9 on page 35, line 18, before "interest", by inserting
10 "distributional"; and
11 on page 47, line 31, after "and", by inserting the following:
12 ", unless continued pursuant to subsection (b) of Section
13 35-3,"; and
14 on page 52, line 26, by replacing "cease" with "terminate"
15 cease"; and
16 on page 52, line 30, by replacing "at the time of
17 dissolution" with the following:
18 "or member or members at the time of termination
19 dissolution"; and
20 on page 52, line 32, by replacing "dissolved limited
21 liability" with the following:
-2- LRB9003480NTdvam01
1 "terminated dissolved limited liability"; and
2 on page 53, line 1, by replacing "dissolution" with
3 "termination dissolution"; and
4 on page 53, line 3, by replacing "dissolved limited
5 liability" with the following:
6 "terminated dissolved limited liability"; and
7 on page 57, by replacing lines 13 and 14 with the following:
8 "(2) the member's fiduciary duties terminate, except as
9 provided in subdivision (3) of this subsection (b); and"; and
10 on page 80, immediately below line 26, by inserting the
11 following:
12 "(805 ILCS 180/15-10 rep.)"; and
13 on page 81, line 6, after "10-5,", by inserting "15-10,".