§ 25-25 — Removal of private entity executive employees

Illinois § 25-25

• Jurisdiction: Illinois
• Topic: GOVERNMENT
• Ch. 30: FINANCE
• Act 30 ILCS 558/: Public-Private Partnership for Civic and Transit Infrastructure Project Act.
• Art.: Artilce 25 - Public-Private Partnership

Text

The public agency shall have the authority to seek the removal of any executive employee of the private entity from the Project if the executive employee is found guilty of any criminal offense related to the conduct of its business or the regulation thereof in any jurisdiction during the term of the public-private agreement. The public agency shall have the additional authority to approve the successor to the removed executive employee in the event the executive employee is removed from the Project and that approval shall not be unreasonably withheld consistent with the terms of this Section. For purposes of this Section, an "executive employee" is the President, Chairman, Chief Executive Officer, or Chief Financial Officer of the private entity.

Legislative History

(Source: P.A. 101-10, eff. 6-5-19.)