(805 ILCS 10/10) (from Ch. 32, par. 415-10)
Sec. 10.
A professional corporation organized under this Act shall be governed
by a board of directors elected by the shareholders and represented by
officers elected by the board of directors, and, if desired, by an
executive committee elected by the board of directors. If such
corporation has only one shareholder it need have only one director who
shall be such shareholder and may also serve as president, secretary, and
treasurer of the corporation. Such one shareholder corporations need not
have a vice-president. If such corporation has only 2 shareholders it
need have only 2 directors who shall be such shareholders and they shall
fill the offices of president, vice-president, secretary and treasurer
of the corporation between them.
(Source: P.A. 81-405.)
|