BUS-LLC WAIVER OF DISSOLUTION House SponsorsRep. Thaddeus Jones-Rita Mayfield Senate Sponsors(Sen. Thomas Cullerton) 7/16/2014HousePublic Act . . . . . . . . . 98-0720 805 ILCS 5/4.05from Ch. 32, par. 4.05805 ILCS 180/1-10805 ILCS 180/1-25805 ILCS 180/35-3805 ILCS 180/37-40805 ILCS 180/45-15 Amends the Business Corporation Act of 1983. Deletes a provision prohibiting the use of "Chicago 2016" in the corporate name without express written consent of the United States Olympic Committee. Amends the Limited Liability Company Act. Makes corresponding changes regarding the use of the term "Chicago 2016". In provisions setting forth exceptions to the prohibition against a limited liability company being formed for the business of insurance, adds an exception for the purpose of carrying on the business of a syndicate or limited syndicate under the Insurance Exchange Article of the Illinois Insurance Code. Includes foreign limited liability companies organized, existing, or subject to the Act in provisions regarding the name of a limited liability company. Sets forth requirements for waiving the right to have the limited liability company's business wound up and terminated. Effective July 1, 2014.House Floor Amendment No. 1 Deletes reference to:805 ILCS 180/1-25Deletes an exception for the purpose of carrying on the business of a syndicate or limited syndicate under the Insurance Exchange Article of the Illinois Insurance Code in provisions setting forth exceptions to the prohibition against a limited liability company being formed for the business of insurance. 1/28/2014HouseFiled with the Clerk by Rep. Thaddeus Jones 1/28/2014HouseFirst Reading 1/28/2014HouseReferred to Rules Committee 3/3/2014HouseAssigned to Judiciary 3/24/2014HouseDo Pass / Short Debate Judiciary; 016-000-000 3/25/2014HousePlaced on Calendar 2nd Reading - Short Debate 3/27/2014HouseSecond Reading - Short Debate 3/27/2014HousePlaced on Calendar Order of 3rd Reading - Short Debate 3/27/2014HouseRecalled to Second Reading - Short Debate 3/27/2014HouseHeld on Calendar Order of Second Reading - Short Debate 3/27/2014HouseHouse Floor Amendment No. 1 Filed with Clerk by Rep. Thaddeus Jones 3/27/2014HouseHouse Floor Amendment No. 1 Referred to Rules Committee 4/4/2014HouseAdded Chief Co-Sponsor Rep. Rita Mayfield 4/7/2014HouseHouse Floor Amendment No. 1 Recommends Be Adopted Rules Committee; 005-000-000 4/9/2014HouseHouse Floor Amendment No. 1 Adopted 4/9/2014HousePlaced on Calendar Order of 3rd Reading - Short Debate 4/10/2014HouseThird Reading - Short Debate - Passed 107-000-000 4/10/2014SenateArrive in Senate 4/10/2014SenatePlaced on Calendar Order of First Reading April 29, 2014 4/10/2014SenateChief Senate Sponsor Sen. Thomas Cullerton 4/11/2014SenateFirst Reading 4/11/2014SenateReferred to Assignments 4/23/2014SenateAssigned to Judiciary 4/29/2014SenateDo Pass Judiciary; 008-000-000 4/29/2014SenatePlaced on Calendar Order of 2nd Reading April 30, 2014 4/30/2014SenateSecond Reading 4/30/2014SenatePlaced on Calendar Order of 3rd Reading May 1, 2014 5/20/2014SenateThird Reading - Passed; 057-000-000 5/20/2014HousePassed Both Houses 6/18/2014HouseSent to the Governor 7/16/2014HouseGovernor Approved 7/16/2014HouseEffective Date July 16, 2014 7/16/2014HousePublic Act . . . . . . . . . 98-0720