(805 ILCS 5/10.40)
(from Ch. 32, par. 10.40)
Amendment pursuant to reorganization.
(a) The articles
of incorporation of a corporation may be amended without director or
action to carry out a plan of reorganization ordered by a court
of competent jurisdiction pursuant to any applicable statute of the United
States if the articles after amendment contain only provisions required
or permitted by Section 2.10 of this Act.
(b) The individual or individuals designated by the court shall execute,
verify and deliver to the Secretary of State for filing in accordance with
Section 1.10 of this Act, articles of amendment setting forth:
(1) the name of the corporation;
(2) the text of each amendment approved by the court;
(3) the date of the court's order approving the articles of amendment;
(4) the title of the reorganization proceeding in which the order
was entered; and
(5) a statement that the court had jurisdiction of the proceeding under
(c) Shareholders of a corporation undergoing reorganization do not have
dissenters' rights except and to the extent provided in the reorganization plan.
(Source: P.A. 83-1025.)