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| [ Senate Amendment 001 ] |
91_SB0778ham001
LRB9106065JSgcam02
1 AMENDMENT TO SENATE BILL 778
2 AMENDMENT NO. . Amend Senate Bill 778 on page 2,
3 line 15, by changing "Section 13.05" to "Sections 13.05 and
4 14.05"; and
5 on page 2 by replacing lines 31 and 32 with the following:
6 "building and loan corporation; provided, however, that a
7 foreign corporation may obtain a certificate of authority
8 under this Act for the purpose of carrying on the business of
9 a syndicate or limited syndicate under Article V-1/2 of the
10 Illinois Insurance Code or for the purpose of carrying on";
11 and
12 on page 3 by deleting lines 1, 2, and 3; and
13 on page 3 by inserting immediately below line 25 the
14 following:
15 "(805 ILCS 5/14.05) (from Ch. 32, par. 14.05)
16 Sec. 14.05. Annual report of domestic or foreign
17 corporation. Each domestic corporation organized under any
18 general law or special act of this State authorizing the
19 corporation to issue shares, other than homestead
20 associations, building and loan associations, banks and
21 insurance companies (which includes a syndicate or limited
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1 syndicate regulated under Article V 1/2 of the Illinois
2 Insurance Code or member of a group of underwriters regulated
3 under Article V of that Code), and each foreign corporation
4 (except members of a group of underwriters regulated under
5 Article V of the Illinois Insurance Code) authorized to
6 transact business in this State, shall file, within the time
7 prescribed by this Act, an annual report setting forth:
8 (a) The name of the corporation.
9 (b) The address, including street and number, or
10 rural route number, of its registered office in this
11 State, and the name of its registered agent at that
12 address.
13 (c) The address, including street and number, or
14 rural route number, of its principal office.
15 (d) The names and respective residential addresses,
16 including street and number, or rural route number, of
17 its directors and officers.
18 (e) A statement of the aggregate number of shares
19 which the corporation has authority to issue, itemized by
20 classes and series, if any, within a class.
21 (f) A statement of the aggregate number of issued
22 shares, itemized by classes, and series, if any, within a
23 class.
24 (g) A statement, expressed in dollars, of the
25 amount of paid-in capital of the corporation as defined
26 in this Act.
27 (h) Either a statement that (1) all the property of
28 the corporation is located in this State and all of its
29 business is transacted at or from places of business in
30 this State, or the corporation elects to pay the annual
31 franchise tax on the basis of its entire paid-in capital,
32 or (2) a statement, expressed in dollars, of the value of
33 all the property owned by the corporation, wherever
34 located, and the value of the property located within
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1 this State, and a statement, expressed in dollars, of the
2 gross amount of business transacted by the corporation
3 and the gross amount thereof transacted by the
4 corporation at or from places of business in this State
5 as of the close of its fiscal year on or immediately
6 preceding the last day of the third month prior to the
7 anniversary month or in the case of a corporation which
8 has established an extended filing month, as of the close
9 of its fiscal year on or immediately preceding the last
10 day of the third month prior to the extended filing
11 month; however, in the case of a domestic corporation
12 that has not completed its first fiscal year, the
13 statement with respect to property owned shall be as of
14 the last day of the third month preceding the anniversary
15 month and the statement with respect to business
16 transacted shall be furnished for the period between the
17 date of incorporation and the last day of the third month
18 preceding the anniversary month. In the case of a
19 foreign corporation that has not been authorized to
20 transact business in this State for a period of 12 months
21 and has not commenced transacting business prior to
22 obtaining a certificate of authority, the statement with
23 respect to property owned shall be as of the last day of
24 the third month preceding the anniversary month and the
25 statement with respect to business transacted shall be
26 furnished for the period between the date of its
27 authorization to transact business in this State and the
28 last day of the third month preceding the anniversary
29 month. If the data referenced in item (2) of this
30 subsection is not completed, the franchise tax provided
31 for in this Act shall be computed on the basis of the
32 entire paid-in capital.
33 (i) A statement, including the basis therefor, of
34 status as a "minority owned business" or as a "female
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1 owned business" as those terms are defined in the
2 Minority and Female Business Enterprise Act.
3 (j) Additional information as may be necessary or
4 appropriate in order to enable the Secretary of State to
5 administer this Act and to verify the proper amount of
6 fees and franchise taxes payable by the corporation.
7 The annual report shall be made on forms prescribed and
8 furnished by the Secretary of State, and the information
9 therein required by paragraphs (a) through (d), both
10 inclusive, of this Section, shall be given as of the date of
11 the execution of the annual report and the information
12 therein required by paragraphs (e), (f) and (g) of this
13 Section shall be given as of the last day of the third month
14 preceding the anniversary month, except that the information
15 required by paragraphs (e), (f) and (g) shall, in the case of
16 a corporation which has established an extended filing month,
17 be given in its final transition annual report and each
18 subsequent annual report as of the close of its fiscal year
19 immediately preceding its extended filing month. It shall be
20 executed by the corporation by its president, a
21 vice-president, secretary, assistant secretary, treasurer or
22 other officer duly authorized by the board of directors of
23 the corporation to execute those reports, and verified by him
24 or her, or, if the corporation is in the hands of a receiver
25 or trustee, it shall be executed on behalf of the corporation
26 and verified by the receiver or trustee.
27 (Source: P.A. 88-151; 88-691, eff. 1-24-95.)"; and
28 on page 4 by replacing lines 2 through 12 with the following:
29 "(2) insurance unless, for the purpose of carrying
30 on business as a member of a group including incorporated
31 and individual unincorporated underwriters, the Director
32 of Insurance finds that the group meets the requirements
33 of subsection (3) of Section 86 of the Illinois Insurance
34 Code and the limited liability company, if insolvent, is
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1 subject to liquidation by the Director of Insurance under
2 Article XIII of the Illinois Insurance Code carried on as
3 a business of a syndicate or limited syndicate under
4 Article V 1/2 of the Illinois Insurance Code;"; and
5 on page 6 by replacing line 25 with the following:
6 "syndicate or limited syndicate authorized and regulated by
7 the Director of Insurance under Article V 1/2 of the".