Fabio
5.8 KiB
type, title, description, jurisdiction, legislature, session, identifier, citation, classification, subjects, status, primary_sponsors, version_count, action_count, vote_count, first_action, last_action, source, source_identifier, source_url, source_hash, vintage, source_snapshot, retrieved_at, confidence, tags
| type | title | description | jurisdiction | legislature | session | identifier | citation | classification | subjects | status | primary_sponsors | version_count | action_count | vote_count | first_action | last_action | source | source_identifier | source_url | source_hash | vintage | source_snapshot | retrieved_at | confidence | tags | ||||
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| Bill | BUS CORP-SHAREHOLDER WAIVER | Amends the Business Corporation Act of 1983. Provides that unless otherwise provided in the articles of incorporation, a shareholder who executes and delivers to the corporation a written instrument irrevocably waiving the right (i) to vote any shares held by such shareholder, whether for the election of directors or otherwise, (ii) to be a director or officer of the corporation, and (iii) in any other manner to control, directly or indirectly, corporate actions or the election or removal of any director or officer of the corporation, and who at the time of such waiver is not a director or officer of the corporation, shall have no fiduciary duty to the corporation or any of its shareholders arising out of the fact that such person is a shareholder of the corporation. Provides that the corporation shall give prompt notice of such waiver to the remaining shareholders, except that no such notice need be given by a corporation that has shares listed on a national securities exchange or regularly traded in a market maintained by one or more members of a national or affiliated securities association. Effective July 1, 2005. | us/states/il | Illinois General Assembly | 94th | SB 533 | Illinois SB 533 (94th) |
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enacted | 3 | 25 | 2 | 2005-02-17 | 2005-08-01 | openstates | ocd-bill/54a6be0e-13de-4299-b670-fa6c35a862b7 | http://ilga.gov/legislation/BillStatus.asp?DocNum=533&GAID=8&DocTypeID=SB&LegId=17408&SessionID=50&GA=94 | 85227ba83b80b216c679fbf7d8cdfb8c8ba51ff49abfa9b9a6f30f7276a61bf2 | 2026-07-01 | https://data.openstates.org/daily/2026-07-01/public.pgdump | 2026-07-06 | reported |
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Illinois SB 533 (94th) — BUS CORP-SHAREHOLDER WAIVER
Amends the Business Corporation Act of 1983. Provides that unless otherwise provided in the articles of incorporation, a shareholder who executes and delivers to the corporation a written instrument irrevocably waiving the right (i) to vote any shares held by such shareholder, whether for the election of directors or otherwise, (ii) to be a director or officer of the corporation, and (iii) in any other manner to control, directly or indirectly, corporate actions or the election or removal of any director or officer of the corporation, and who at the time of such waiver is not a director or officer of the corporation, shall have no fiduciary duty to the corporation or any of its shareholders arising out of the fact that such person is a shareholder of the corporation. Provides that the corporation shall give prompt notice of such waiver to the remaining shareholders, except that no such notice need be given by a corporation that has shares listed on a national securities exchange or regularly traded in a market maintained by one or more members of a national or affiliated securities association. Effective July 1, 2005.
Version chain
The bill's text revisions, in order — the diff chain from filing to enrollment.
Votes
- Third Reading — 56–0 (pass) · upper
- Third Reading — 115–0 (pass) · lower
Sponsors
- Ira I. Silverstein — primary (person)
Timeline
The legislative action history — every referral, reading, and vote.
- 2005-02-17 Filed with Secretary by Sen. Ira I. Silverstein
filing - 2005-02-17 First Reading
reading-1 - 2005-02-17 Referred to Rules
referral-committee - 2005-02-23 Assigned to Judiciary
referral-committee - 2005-03-02 Do Pass Judiciary; 010-000-000
committee-passage - 2005-03-02 Placed on Calendar Order of 2nd Reading March 3, 2005
- 2005-03-15 Second Reading
reading-2 - 2005-03-15 Placed on Calendar Order of 3rd Reading March 16, 2005
- 2005-04-07 Third Reading - Passed; 056-000-000
reading-3, passage - 2005-04-07 Arrived in House
introduction - 2005-04-07 Placed on Calendar Order of First Reading
reading-1 - 2005-04-08 Chief House Sponsor Rep. William Davis
- 2005-04-08 First Reading
reading-1 - 2005-04-08 Referred to Rules Committee
referral-committee - 2005-04-20 Assigned to Judiciary I - Civil Law Committee
referral-committee - 2005-04-27 Do Pass / Short Debate Judiciary I - Civil Law Committee; 008-000-001
committee-passage - 2005-04-28 Placed on Calendar 2nd Reading - Short Debate
- 2005-05-03 Second Reading - Short Debate
reading-2 - 2005-05-03 Placed on Calendar Order of 3rd Reading - Short Debate
- 2005-05-05 Third Reading - Short Debate - Passed 115-000-000
reading-3, passage - 2005-05-05 Passed Both Houses
- 2005-06-03 Sent to the Governor
executive-receipt - 2005-08-01 Governor Approved
executive-signature - 2005-08-01 Effective Date August 1, 2005
- 2005-08-01 Public Act . . . . . . . . . 94-0394
became-law
Source
OpenStates / OpenCivicData bulk snapshot 2026-07-01; origin ocd-bill/54a6be0e-13de-4299-b670-fa6c35a862b7. Confidence: reported (aggregated from official Illinois legislature records).