093_SB1491

 
                                     LRB093 05979 MBS 11349 b

 1        AN ACT concerning business organizations.

 2        Be  it  enacted  by  the People of the State of Illinois,
 3    represented in the General Assembly:

 4        Section 5.  The Medical Corporation  Act  is  amended  by
 5    changing Section 13 as follows:

 6        (805 ILCS 15/13) (from Ch. 32, par. 643)
 7        Sec. 13.  All of the officers, directors and shareholders
 8    of  a  corporation  subject to this Act shall at all times be
 9    persons licensed pursuant to  the  Medical  Practice  Act  of
10    1987,  the  Physician  Assistant  Practice  Act  of 1987, the
11    Podiatric Medical Practice Act of 1987, or,  if  an  officer,
12    director,  or  shareholder is an advanced practice nurse, the
13    Nursing and Advanced Practice Nursing Act. No person  who  is
14    not  so  licensed  shall  have  any  part  in  the ownership,
15    management, or control of such corporation, nor may any proxy
16    to vote any shares of such corporation be given to  a  person
17    who is not so licensed. Notwithstanding any provisions to the
18    contrary in the "Business Corporation Act of 1983", as now or
19    hereafter  amended,  if  all  of  the shares of a corporation
20    subject to this Act are owned by one shareholder, the  office
21    of president and secretary may be held by the same person.
22    (Source: P.A. 85-1209.)

23        Section  99.  Effective date.  This Act takes effect upon
24    becoming law.