§ 112.12 — Dissolution of residential cooperative housing corporations

Illinois § 112.12

• Jurisdiction: Illinois
• Topic: BUSINESS AND EMPLOYMENT
• Ch. 805: BUSINESS ORGANIZATIONS
• Act 805 ILCS 105/: General Not For Profit Corporation Act of 1986.
• Art.: Article 12 - Dissolution

Text

When a not-for-profit corporation organized for the purpose of ownership or administration of residential property on a cooperative basis has members entitled to vote on dissolution, there must be an open meeting and vote of those members before a dissolution may be authorized.

Legislative History

(Source: P.A. 98-302, eff. 1-1-14.)