Illinois § 60 Dissolution and termination

Illinois Statutes

§ 60 — Dissolution and termination

Illinois § 60

TopicBUSINESS AND EMPLOYMENT

Ch. 805BUSINESS ORGANIZATIONS

Act 805 ILCS 317/Limited Worker Cooperative Association Act.

This text of Illinois § 60 (Dissolution and termination) 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. 60 (2026).

Text

A limited worker cooperative association may be dissolved by (1) a two-thirds vote of the assembly, (2) a majority vote of the assembly as stated in the cooperative agreement, or (3) administratively. The vote shall be in accordance with Section 55, and upon dissolution of its business and activities must be wound up and terminated in the manner provided under the Limited Liability Company Act for a limited liability company.

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A limited worker cooperative association may be dissolved by (1) a two-thirds vote of the assembly, (2) a majority vote of the assembly as stated in the cooperative agreement, or (3) administratively. The vote shall be in accordance with Section 55, and upon dissolution of its business and activities must be wound up and terminated in the manner provided under the Limited Liability Company Act for a limited liability company.