Co-operative Act

Sections covered

• 805 ILCS 310/1Business Organizations › 805 ILCS 310 — Co-operative Act
• 805 ILCS 310/10Business Organizations › 805 ILCS 310 — Co-operative Act
• 805 ILCS 310/11Business Organizations › 805 ILCS 310 — Co-operative Act
• 805 ILCS 310/12Business Organizations › 805 ILCS 310 — Co-operative Act
• 805 ILCS 310/13Corporations organized under this Act may borrow money at legal rates of interest and pledge their property, both real and personal, to secure payment thereof, and may have and exercise all power necessary and requisite to carry into effect the objects for which they may be formed
• 805 ILCS 310/14Business Organizations › 805 ILCS 310 — Co-operative Act
• 805 ILCS 310/15Business Organizations › 805 ILCS 310 — Co-operative Act
• 805 ILCS 310/16Business Organizations › 805 ILCS 310 — Co-operative Act
• 805 ILCS 310/17Business Organizations › 805 ILCS 310 — Co-operative Act
• 805 ILCS 310/18All stock subscribed for shall be paid for within one year and in default thereof shall be forfeited with the payments made thereon to the society
• 805 ILCS 310/19Business Organizations › 805 ILCS 310 — Co-operative Act
• 805 ILCS 310/2No person shall be permitted to subscribe for more than 10 shares of the capital stock of such association, nor shall any person be permitted to own or control more than 10 shares of the capital stock of such association
• 805 ILCS 310/20Business Organizations › 805 ILCS 310 — Co-operative Act
• 805 ILCS 310/21Shareholders may vote in person or by written proxy
• 805 ILCS 310/22Business Organizations › 805 ILCS 310 — Co-operative Act
• 805 ILCS 310/23Every assignment or transfer of stock shall be recorded in the books of the association, and each shareholder shall be liable jointly with the association as well as severally, for the debts of the association only to the extent of the amount that may be unpaid upon the share or shares held by him
• 805 ILCS 310/24Shareholders at any regular meeting or any special meeting called for that purpose may adopt by-laws not inconsistent with the provisions of this Act
• 805 ILCS 310/25The invalidity of any portion of this Act shall in no way affect the validity of any other portion thereof which can be given effect without such invalid part
• 805 ILCS 310/26Business Organizations › 805 ILCS 310 — Co-operative Act
• 805 ILCS 310/27The Secretary of State shall provide uniform blanks for the use of associations incorporated under this Act
• 805 ILCS 310/3Business Organizations › 805 ILCS 310 — Co-operative Act
• 805 ILCS 310/4Duplicate originals of the articles of incorporation shall be delivered to the Secretary of State
• 805 ILCS 310/5Business Organizations › 805 ILCS 310 — Co-operative Act
• 805 ILCS 310/6Business Organizations › 805 ILCS 310 — Co-operative Act
• 805 ILCS 310/7Every such association shall be managed by a board of not less than 5 directors
• 805 ILCS 310/8Business Organizations › 805 ILCS 310 — Co-operative Act
• 805 ILCS 310/9No shareholder in any association shall own more than 10 shares nor of a greater aggregate par value than $10,000, except as hereinafter provided