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90th General Assembly

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Public Act 90-0233

SB1038 Enrolled                                LRB9003443NTsb

    AN ACT to amend the Co-operative Act by changing  Section
22.

    Be  it  enacted  by  the People of the State of Illinois,
represented in the General Assembly:

    Section 5.  The Co-operative Act is amended  by  changing
Section 22 as follows:

    (805 ILCS 310/22) (from Ch. 32, par. 326)
    Sec.   22.   No   corporation  or  association  hereafter
organized or doing business for profit in this State shall be
entitled to use the term "Co-operative"  as  a  part  of  its
corporate  or  other  business  name  or  title unless it has
complied  with  the  provisions  of  this   Act,   except   a
corporation  or  association  organized under the General Not
For Profit  Corporation  Act  of  1986  for  the  purpose  of
ownership  or  administration  of  residential  property on a
cooperative basis, or a corporation or association  organized
under  the  Business  Corporation  Act  of  1983 for the same
purpose.; and Any corporation or  association  violating  the
provision of this Section may be enjoined from doing business
under  such  name  at  the instance of any shareholder of any
association or corporation organized under this Act.
(Source: Laws 1915, p. 325.)

    Section 99.  Effective date.  This Act takes effect  upon
becoming law.
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