republic-os/legislation/us/states/il/99th/hb-4361.md

---
type: "Bill"
title: "LLC-VARIOUS"
description: "Amends the Limited Liability Company Act. Establishes distinctions between membership interests. Provides for the appointment of officers. Authorizes the use of oral operating agreements. Makes changes concerning electronic signatures. Makes changes regarding a member's right to information. Provides that members of limited liability company are not agents solely because of membership. Expands the scope of operating agreements. Makes changes concerning unauthorized distributions. Provides that creditors acquire only distributional rights. Requires judicial action for dissolution based upon illegality. Abolishes certain statutory buyout rights. Provides for domestication of foreign companies. Provides for conversion of business entities into other forms. Requires the filing of a post office address for service of process. Limits the ability of companies to transact business until an application is filed with the Secretary of State. Makes technical and other changes. Effective July 1, 2017."
jurisdiction: "us/states/il"
legislature: "Illinois General Assembly"
session: "99th"
identifier: "HB 4361"
citation: "Illinois HB 4361 (99th)"
classification: ["bill"]
subjects: []
status: "enacted"
primary_sponsors: []
version_count: 3
action_count: 26
vote_count: 2
first_action: "2015-12-14"
last_action: "2016-07-28"
source: "openstates"
source_identifier: "ocd-bill/b2861849-d116-4089-9869-9690da27122a"
source_url: "http://ilga.gov/legislation/BillStatus.asp?DocNum=4361&GAID=13&DocTypeID=HB&LegId=93082&SessionID=88&GA=99"
source_hash: "75862f232e25e4f966d2510741442e5eed449fc6a541ad16ef6d102d7703935e"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-il"]
---

# Illinois HB 4361 (99th) — LLC-VARIOUS

Amends the Limited Liability Company Act. Establishes distinctions between membership interests. Provides for the appointment of officers. Authorizes the use of oral operating agreements. Makes changes concerning electronic signatures. Makes changes regarding a member's right to information. Provides that members of limited liability company are not agents solely because of membership. Expands the scope of operating agreements. Makes changes concerning unauthorized distributions. Provides that creditors acquire only distributional rights. Requires judicial action for dissolution based upon illegality. Abolishes certain statutory buyout rights. Provides for domestication of foreign companies. Provides for conversion of business entities into other forms. Requires the filing of a post office address for service of process. Limits the ability of companies to transact business until an application is filed with the Secretary of State. Makes technical and other changes. Effective July 1, 2017.

## Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. **Introduced** (filed) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09900HB4361&GA=99&SessionId=88&DocTypeId=HB&LegID=93082&DocNum=4361&GAID=13&Session=&print=true)
2. **Engrossed** (committee substitute) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09900HB4361eng&GA=99&SessionId=88&DocTypeId=HB&LegID=93082&DocNum=4361&GAID=13&Session=&print=true)
3. **Enrolled** (enrolled) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09900HB4361enr&GA=99&SessionId=88&DocTypeId=HB&LegID=93082&DocNum=4361&GAID=13&Session=&print=true)

## Votes

- Third Reading — **112–0** (pass) · lower
- Third Reading — **54–0** (pass) · upper

## Sponsors

- Elaine Nekritz — primary (person)

## Timeline

The legislative action history — every referral, reading, and vote.

- **2015-12-14** Filed with the Clerk by Rep. Elaine Nekritz `filing`
- **2016-01-13** First Reading `reading-1`
- **2016-01-13** Referred to Rules Committee `referral-committee`
- **2016-02-23** Assigned to Judiciary - Civil Committee `referral-committee`
- **2016-04-06** Do Pass / Short Debate Judiciary - Civil Committee; 011-000-000 `committee-passage`
- **2016-04-07** Placed on Calendar 2nd Reading - Short Debate
- **2016-04-12** Second Reading - Short Debate `reading-2`
- **2016-04-12** Placed on Calendar Order of 3rd Reading - Short Debate
- **2016-04-14** Third Reading - Short Debate - Passed 112-000-001 `reading-3, passage`
- **2016-04-15** Added Chief Co-Sponsor Rep. Carol Sente
- **2016-04-18** Arrive in Senate `introduction`
- **2016-04-18** Placed on Calendar Order of First Reading April 19, 2016 `reading-1`
- **2016-04-18** Chief Senate Sponsor Sen. Don Harmon
- **2016-04-18** First Reading `reading-1`
- **2016-04-18** Referred to Assignments `referral-committee`
- **2016-04-27** Assigned to Judiciary `referral-committee`
- **2016-05-04** Do Pass Judiciary; 010-000-000 `committee-passage`
- **2016-05-04** Placed on Calendar Order of 2nd Reading May 5, 2016
- **2016-05-10** Second Reading `reading-2`
- **2016-05-10** Placed on Calendar Order of 3rd Reading May 11, 2016
- **2016-05-26** Third Reading - Passed; 054-000-000 `reading-3, passage`
- **2016-05-26** Passed Both Houses
- **2016-06-24** Sent to the Governor `executive-receipt`
- **2016-07-28** Governor Approved `executive-signature`
- **2016-07-28** Effective Date July 1, 2017
- **2016-07-28** Public Act . . . . . . . . . 99-0637 `became-law`

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/b2861849-d116-4089-9869-9690da27122a`. Confidence: reported (aggregated from official Illinois legislature records).