Illinois Senate Bill 2147 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Democrat 1-0)
Status: Failed on January 13 2021 - 100% progression
Action: 2021-01-13 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]

Creates the Uniform Limited Cooperative Association Act. Provides for the organization and operation of limited cooperative associations. Provides that a limited cooperative association organized under the Act is an autonomous, unincorporated association of persons united to meet their mutual interests through a jointly owned enterprise primarily controlled by those persons, which authorizes the combination of ownership and receipt of benefits by members for whose interests the association is formed and permits investments by members who may receive returns on their investments and a share of control. Provides for: filing with the Secretary of State; organic rules; membership; members' interests; marketing contracts; directors; officers; indemnification and advancement of expenses; contributions; allocations; distributions; dissolution; actions; disposing of assets; foreign cooperatives; merger; interest exchange; conversion; domestication; and other matters.

LIMITED COOP ASSOCIATION ACT

Sen. Ram Villivalam [D]

Date	Chamber	Action
2021-01-13	Senate	Session Sine Die
2019-03-28	Senate	Rule 3-9(a) / Re-referred to Assignments
2019-03-22	Senate	Rule 2-10 Committee Deadline Established As March 28, 2019
2019-03-12	Senate	Postponed - Judiciary
2019-03-05	Senate	Assigned to Judiciary
2019-02-15	Senate	Referred to Assignments
2019-02-15	Senate	First Reading
2019-02-15	Senate	Filed with Secretary by Sen. Ram Villivalam

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2147&GAID=15&DocTypeID=SB&SessionID=108&GA=101
Text	https://www.ilga.gov/legislation/101/SB/10100SB2147.htm