BUS CORP-SHAREHOLDER MEETINGS
Synopsis of Bill as introduced:
Amends the Business Corporation Act of 1983. In provisions
concerning meetings of shareholders, provides that the use of
interactive technology, including but not limited to electronic
transmission, Internet usage or remote communication, shall be
encouraged to give more shareholders the opportunity to participate.
SENATE AMENDMENT NO. 1.
Adds reference to:
805 ILCS 105/107.05
Deletes everything after the enacting clause. Amends the Business
Corporation Act of 1983 and the General Not For Profit Corporation Act
of 1986. Provides that shareholders may participate in meetings
through the use of conference telephones or interactive technology un-
less such participation is specifically prohibited by the articles of
incorporation or by-laws.
SENATE AMENDMENT NO. 2.
Replaces language providing that shareholders or members may
participate in and act at any meeting through the use of a conference
telephone or interactive technology with language providing that a
corporation may allow shareholders or members to participate in and
act at any meeting through the use of a conference telephone or
Last action on Bill: PUBLIC ACT.............................. 92-0771
Last action date: AUG-06-2002
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 2
END OF INQUIRY
Full Text Bill Status