(215 ILCS 5/155.08)
(from Ch. 73, par. 767.8)
Statutory provisions operative during emergency.
In the event that any domestic company has not adopted emergency
by-laws, the following provisions shall become operative during an
emergency as defined in Section 155.06:
(1) The board of directors acting during such period may take any and
every action reasonably necessary to enable the company to meet the
exigencies of the emergency and to continue the business.
(2) A quorum of the emergency board of directors shall consist of a
majority of the available surviving directors. If less than three directors
are able to convene, company officers may temporarily substitute as acting
directors until formal elections can be conducted or the regular directors
become available to resume their duties.
(3) The line of succession of the officers for the purpose of filling
temporary vacancies of company offices and maintaining a quorum of three
acting directors on the board in time of emergency shall be president,
secretary, and treasurer followed by the vice-presidents ranked according
to their seniority in the company.
(Source: Laws 1965, p. 418