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SB 2797 Illinois Senate · 101st Regular Session

LLC-OPERATING AGREEMENT

Summary
Amends the Limited Liability Company Act. Provides that a limited liability company's operating agreement may not restrict the duty to act fairly as described in the Act. Provides that the operating agreement may identify the standards by which the obligation to act fairly is measured.
Bill status in committee 1 of 4 stages cleared
Introduction
Feb 2020
Committee Review
Floor Vote
Governor
Introduced Feb 4, 2020 Last action May 15, 2020
Floor votes

How they voted

No floor votes recorded yet.
Full legislative history

Actions timeline

Total actions
18
Key actions
6
Committee
9
May 7, 2020
Upper · Passed
Rule 2-10 Committee Deadline Established As May 22, 2020
upper
Apr 30, 2020
Upper · Passed
Rule 2-10 Committee Deadline Established As May 15, 2020
upper
Apr 23, 2020
Upper · Passed
Rule 2-10 Committee Deadline Established As May 7, 2020
upper
Apr 16, 2020
Upper · Passed
Rule 2-10 Committee Deadline Established As April 30, 2020
upper
Apr 12, 2020
Committee
Pursuant to Senate Rule 3-9(b) / Referred to Assignments
upper
Mar 25, 2020
Upper · Passed
Rule 2-10 Committee Deadline Established As April 24, 2020
upper
Mar 18, 2020
Upper · Passed
Rule 2-10 Committee Deadline Established As April 2, 2020
upper
Feb 11, 2020
Committee
Assigned to Judiciary
upper
Feb 4, 2020
Committee
Referred to Assignments
upper
0 primary · 1 co-sponsor

Sponsors

No sponsor information available.