(810 ILCS 5/8-210)
(a) In this Section, "overissue" means the issue of securities in
excess of the amount the issuer has corporate power to issue, but an
overissue does not occur if appropriate action has cured the overissue.
(b) Except as otherwise provided in subsections (c) and (d), the
provisions of this Article which validate a security or compel its issue or
reissue do not apply to the extent that validation, issue, or reissue would
result in overissue.
(c) If an identical security not constituting an overissue is
reasonably available for purchase, a person entitled to issue or validation
may compel the issuer to purchase the security and deliver it if certificated
or register its transfer if uncertificated, against surrender of any security
certificate the person holds.
(d) If a security is not reasonably available for purchase, a person
entitled to issue or validation may recover from the issuer the price the
person or the last purchaser for value paid for it with interest from the date
of the person's demand.
(Source: P.A. 89-364, eff. 1-1-96.)