Illinois General Assembly - Full Text of HB4803
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Full Text of HB4803  100th General Assembly


Rep. Lindsay Parkhurst

Filed: 4/2/2018





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2    AMENDMENT NO. ______. Amend House Bill 4803 by replacing
3everything after the enacting clause with the following:
4    "Section 5. The General Not For Profit Corporation Act of
51986 is amended by changing Section 108.50 as follows:
6    (805 ILCS 105/108.50)  (from Ch. 32, par. 108.50)
7    Sec. 108.50. Officers. (a) A corporation shall have such
8officers as shall be provided in the bylaws. Officers and
9assistant officers and agents as may be deemed necessary may be
10elected or appointed by the board of directors or chosen in
11such other manner as may be prescribed by the bylaws. If the
12bylaws so provide, any two or more offices may be held by the
13same person. One officer, in this Act generally referred to as
14the secretary, shall have the authority to certify the bylaws,
15resolutions of the members and board of directors and
16committees thereof, and other documents of the corporation as



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1true and correct copies thereof.
2    (b) All officers and agents of the corporation, as between
3themselves and the corporation, shall have such express
4authority and perform such duties in the management of the
5property and affairs of the corporation as may be provided in
6the bylaws, or as may be determined by resolution of the board
7of directors not inconsistent with the bylaws and such implied
8authority as recognized by the common law from time to time.
9    (b-1) An individual may not simultaneously serve as the
10treasurer of a corporation and as an officer or chief executive
11of a political subdivision if the individual has the authority
12to unilaterally authorize transactions between both the
13corporation and the political subdivision.
14    (c) The articles of incorporation or the bylaws may provide
15that any one or more officers of the corporation or any other
16person holding a particular office outside the corporation
17shall be a director or directors while he or she holds that
18office. Unless the articles of incorporation or the bylaws
19provide otherwise, such director or directors shall have the
20same rights, duties and responsibilities as other directors.
21(Source: P.A. 84-1423.)
22    Section 99. Effective date. This Act takes effect upon
23becoming law.".