805 ILCS 120/0.01
Short title
Short title. This Act may be cited as the Merger of Not For Profit Corporations Act. (Source: P.A. 86-1324.)
Illinois Compiled Statutes 805 ILCS 120 — Merger of Not For Profit Corporations Act.
Illinois · statute · 805 ILCS 120 · 13 active provisions
805 ILCS 120/1
Name
Name. Any 2 or more societies, corporations or associations of the same or a similar nature, organized under any special or general law of this State, or of any State of these United States pertaining to corporations not for pecuniary profit for the purpose of conducting any kind of business or enterprise for any lawfu…
805 ILCS 120/1.5
Locale misrepresentation
Locale misrepresentation. (a) A person shall not advertise or cause to be listed in a telephone directory an assumed or fictitious business name that intentionally misrepresents where the business is actually located or operating or falsely states that the business is located or operating in the area covered by the tel…
805 ILCS 120/2
Consolidation - How effected
Consolidation - How effected. Merger or consolidation shall be effected in the manner following: (1) The board of directors, governors, trustees or other governing bodies of each corporation which desires to merge or consolidate, shall pass a resolution prescribing the conditions or term of merger or consolidation, the…
805 ILCS 120/3
Notice of consolidation
Notice of consolidation. A notice in general terms of such merger or consolidation shall be published in the County in which the principal office of each corporation so merged or consolidated is located. (Source: Laws 1933, p. 392.)
805 ILCS 120/4
Recording with the recorders
Recording with the recorders. Within 30 days after the publication of said notice as provided by the preceding section in this act as to all such corporations excepting religious corporations, the certificate of the Secretary of State, as required by Clause 6 of Section 2 of this act, to which shall be attached the cer…
805 ILCS 120/5
Powers and duties of consolidated corporation
Powers and duties of consolidated corporation. When such merger or consolidation has been effected, the merged or consolidated corporations shall be a single corporation in accordance with the terms and provisions of the resolution so adopted and approved, and shall be subject to all the duties and liabilities, and hav…
805 ILCS 120/6
Rights and liabilities of consolidated corporation
Rights and liabilities of consolidated corporation. Such single merged or consolidated corporation shall thereupon and thereafter possess all the rights, privileges, immunities, powers and franchises, as well of a public as a private nature, and all property, real, personal and mixed, and all debt due on whatever accou…
805 ILCS 120/8
Consolidation-Issuance of bonds and certificates evidencing interest
Consolidation-Issuance of bonds and certificates evidencing interest. When two or more corporations are merged or consolidated, as provided by this act, the single corporation shall have power and authority to issue bonds or other obligations, negotiable or otherwise, and with or without coupons or interest certificate…
805 ILCS 120/9
Member objecting to consolidation - Rights
Member objecting to consolidation - Rights. Any member of or owner of a unit of interest in any merging or consolidating corporation, objecting to any action of such merging or consolidating corporation in leasing, exchanging, assigning, or selling all or any part of its corporate assets, or objecting to the merger or…
805 ILCS 120/9.5
Eminent domain
Eminent domain. Notwithstanding any other provision of this Act, any power granted under this Act to acquire property by condemnation or eminent domain is subject to, and shall be exercised in accordance with, the Eminent Domain Act. (Source: P.A. 94-1055, eff. 1-1-07.)
805 ILCS 120/10
Consolidation of certain missionary and benevolence organizations prior to this Act - Validation
Consolidation of certain missionary and benevolence organizations prior to this Act - Validation. In all cases where, prior to the adoption of this Act, 2 or more such non-profit corporations organized for the promotion of religious, educational, missionary or other benevolent or Christian activities have consolidated,…
805 ILCS 120/10a
Act inapplicable to certain corporations
Act inapplicable to certain corporations. The provisions of this Act shall not be applicable to corporations which are subject to the provisions of "An Act to revise the law relating to corporations not for pecuniary profit", enacted by the Sixty-third General Assembly. (Source: Laws 1943, vol. 1, p. 514.)