State of Illinois
90th General Assembly
Legislation

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90_SB1097eng

      805 ILCS 105/103.10       from Ch. 32, par. 103.10
          Amends the General Not For Profit Corporation Act of 1986
      to provide that a  not  for  profit  corporation  shall  have
      standing  to  sue  when  one  or  more  of  its members would
      otherwise  have  standing   (with   conditions).    Effective
      immediately.
                                                     LRB9003509NTsb
SB1097 Engrossed                               LRB9003509NTsb
 1        AN  ACT  to  amend the General Not For Profit Corporation
 2    Act of 1986 by changing Section 103.10.
 3        Be it enacted by the People of  the  State  of  Illinois,
 4    represented in the General Assembly:
 5        Section 5.  The General Not For Profit Corporation Act of
 6    1986 is amended by changing Section 103.10 as follows:
 7        (805 ILCS 105/103.10) (from Ch. 32, par. 103.10)
 8        Sec.  103.10.   General  powers.   Each corporation shall
 9    have power:
10        (a)  To have perpetual succession by its  corporate  name
11    unless a limited period of duration is stated in its articles
12    of incorporation;
13        (b)  To  sue  and  be  sued,  complain and defend, in its
14    corporate name, and shall have standing to sue  when  one  or
15    more  of  its members would otherwise have standing to sue in
16    his or her own right, providing the  interests  it  seeks  to
17    protect  are  germane  to  the  corporation's  purposes,  and
18    neither  the claim asserted nor the relief requested requires
19    the participation of individual members in the lawsuit;
20        (c)  To have a corporate seal which  may  be  altered  at
21    pleasure,  and  to use the same by causing it, or a facsimile
22    thereof, to be impressed or affixed or in  any  other  manner
23    reproduced, provided that the affixing of a corporate seal to
24    an  instrument shall not give the instrument additional force
25    or effect, or change the construction thereof, and the use of
26    a corporate seal is not mandatory;
27        (d)  To purchase, take, receive, lease as lessee, take by
28    gift, devise, or bequest, or otherwise acquire, and  to  own,
29    hold,  hold  as  trustee, use, and otherwise deal in and with
30    any real or  personal  property,  or  any  interest  therein,
31    situated in or out of this State;
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 1        (e)  To  sell  and  convey,  mortgage,  pledge,  lease as
 2    lessor, and otherwise dispose of  all  or  any  part  of  its
 3    property and assets;
 4        (f)  To  lend money to its officers, employees and agents
 5    except as limited by Section 108.80 of this Act;
 6        (g)  To  purchase,  take,  receive,  subscribe  for,   or
 7    otherwise  acquire,  own,  hold,  vote,  use,  employ,  sell,
 8    mortgage,   loan,   pledge,  or  otherwise  dispose  of,  and
 9    otherwise use and deal in and with, shares or other interests
10    in,  or   obligations   of,   other   domestic   or   foreign
11    corporations,   whether   for   profit  or  not  for  profit,
12    associations, partnerships or individuals;
13        (h)  To  incur  liabilities,  to  borrow  money  for  its
14    corporate  purposes  at  such  rates  of  interest   as   the
15    corporation  may determine without regard to the restrictions
16    of any usury law of this State, to issue its notes, bonds and
17    other obligations;  to  secure  any  of  its  obligations  by
18    mortgage,  pledge,  or  deed  of  trust  of all or any of its
19    property, franchises, and  income;  and  to  make  contracts,
20    including contracts of guaranty and suretyship;
21        (i)  To  invest  its  funds from time to time and to lend
22    money for its corporate purposes, and to take and  hold  real
23    and personal property as security for the payment of funds so
24    invested or loaned;
25        (j)  To conduct its affairs, carry on its operations, and
26    have offices within and without this State and to exercise in
27    any  other  state,  territory, district, or possession of the
28    United States, or in any foreign country, the powers  granted
29    by this Act;
30        (k)  To  elect  or  appoint  officers  and  agents of the
31    corporation,  and  define  their   duties   and   fix   their
32    compensations;
33        (l)  To  make and alter bylaws, not inconsistent with its
34    articles of incorporation or with the  laws  of  this  State,
SB1097 Engrossed            -3-                LRB9003509NTsb
 1    except  as  provided  in  Section 102.30 of this Act, for the
 2    administration  and  regulation  of  the   affairs   of   the
 3    corporation;
 4        (m)  To  make  donations  in  furtherance  of  any of its
 5    purposes; to lend money to the State or  Federal  government;
 6    and  to  conduct  any  lawful  affairs  in  aid of the United
 7    States;
 8        (n)  To cease its corporate activities and surrender  its
 9    corporate franchise;
10        (o)  To  establish  deferred  compensation plans, pension
11    plans, and other incentive plans for its directors,  officers
12    and employees and to make the payments provided for therein;
13        (p)  To  indemnify  its directors, officers, employees or
14    agents in accordance with and  to  the  extent  permitted  by
15    Section 108.75 of this Act and other applicable provisions of
16    law;
17        (q)  To  be  a  promoter,  partner,  member, associate or
18    manager  of  any  partnership,   joint   venture   or   other
19    enterprise; and
20        (r)  To   have  and  exercise  all  powers  necessary  or
21    convenient to effect any or all of the purposes for which the
22    corporation is formed.
23    (Source: P.A. 84-1423.)
24        Section 99.  Effective date.  This Act takes effect  upon
25    becoming law.

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