Illinois § 55-15 Transitional provisions

Illinois Statutes

§ 55-15 — Transitional provisions

Illinois § 55-15

JurisdictionIllinois

TopicBUSINESS AND EMPLOYMENT

Ch. 805BUSINESS ORGANIZATIONS

Act 805 ILCS 180/Limited Liability Company Act.

Art.Article 55 - Miscellaneous

This text of Illinois § 55-15 (Transitional provisions) is published on Counsel Stack Legal Research, covering Illinois primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

805 Ill. Comp. Stat. 55-15 (2026).

Text

(a)Before January 1, 2000, this amendatory Act of 1997 governs only a limited liability company:

(1)organized on or after the effective date of this amendatory Act of 1997, unless the company is continuing the business of a dissolved limited liability company under this Act; and (2) organized before the effective date of this amendatory Act of 1997, that elects, as provided under subsection (c) of this Section, to be governed by this amendatory Act of 1997.

(b)On and after January 1, 2000, this amendatory Act of 1997 governs all limited liability companies.

(c)Before January 1, 2000, a limited liability company voluntarily may elect, in the manner provided in its operating agreement or by law for amending the operating agreement, to be governed by this amendatory Act of 1997.

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(a) Before January 1, 2000, this amendatory Act of 1997 governs only a limited liability company: (1) organized on or after the effective date of this amendatory Act of 1997, unless the company is continuing the business of a dissolved limited liability company under this Act; and (2) organized before the effective date of this amendatory Act of 1997, that elects, as provided under subsection (c) of this Section, to be governed by this amendatory Act of 1997. (b) On and after January 1, 2000, this amendatory Act of 1997 governs all limited liability companies. (c) Before January 1, 2000, a limited liability company voluntarily may elect, in the manner provided in its operating agreement or by law for amending the operating agreement, to be governed by this amendatory Act of 1997.