Bill Text: IL SB3438 | 2013-2014 | 98th General Assembly | Amended
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Amends the Co-operative Act. Increases from 5 to 10 the number of shares for which a person may subscribe or control. Increases from $100 to $1,000 the maximum subscription price per share. Increase from $500 to $10,000 the maximum value of stock issued to any one shareholder. Effective immediately.
Spectrum: Slight Partisan Bill (Democrat 5-3)
Status: (Passed) 2014-08-26 - Public Act . . . . . . . . . 98-1122 [SB3438 Detail]
Download: Illinois-2013-SB3438-Amended.html
Bill Title: Amends the Co-operative Act. Increases from 5 to 10 the number of shares for which a person may subscribe or control. Increases from $100 to $1,000 the maximum subscription price per share. Increase from $500 to $10,000 the maximum value of stock issued to any one shareholder. Effective immediately.
Spectrum: Slight Partisan Bill (Democrat 5-3)
Status: (Passed) 2014-08-26 - Public Act . . . . . . . . . 98-1122 [SB3438 Detail]
Download: Illinois-2013-SB3438-Amended.html
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| 1 | AMENDMENT TO SENATE BILL 3438
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| 2 | AMENDMENT NO. ______. Amend Senate Bill 3438, AS AMENDED, | ||||||
| 3 | in the introductory clause to Section 5 of the bill by changing | ||||||
| 4 | "and 2" to ", 2, and 9"; and
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| 5 | by inserting immediately below the last line of Section 5 of | ||||||
| 6 | the bill the following:
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| 7 | "(805 ILCS 310/9) (from Ch. 32, par. 313)
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| 8 | Sec. 9.
No shareholder in any association shall own more | ||||||
| 9 | than 10 five shares
nor of a greater aggregate par value than | ||||||
| 10 | $10,000 five hundred dollars, except as
hereinafter provided.
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| 11 | (Source: Laws 1915, p. 325.)".
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