Bill Text: IL SB2765 | 2023-2024 | 103rd General Assembly | Chaptered


Bill Title: Amends the Limited Liability Company Act. Provides that specified provisions under the Act do not limit the personal liability of a member or manager imposed under law other than the Act, including, but not limited to, the law of agency, contracts, and torts, and, subject to specified provisions, court imposed equitable remedies, such as piercing the limited liability company veil. Provides that the provisions apply to all actions with respect to which all timely appeals have not been exhausted before the effective date of the amendatory Act and all future actions commenced on or after the effective date of the amendatory Act. Makes other changes.

Spectrum: Partisan Bill (Democrat 3-0)

Status: (Passed) 2024-08-09 - Public Act . . . . . . . . . 103-0920 [SB2765 Detail]

Download: Illinois-2023-SB2765-Chaptered.html

Public Act 103-0920
SB2765 EnrolledLRB103 34462 SPS 64292 b
AN ACT concerning business.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Limited Liability Company Act is amended by
changing Section 10-10 as follows:
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