Business Corporation Act. Public Act 94-889 (Parke, R-Hoffman Estates; Harmon, D-Oak Park) amends the Business Corporation Act of 1983 to do two things: (1) It gives fair stock value to minority shareholders who are forced out of a corporation instead of giving them discounted stock value. Although the voluntary sale of a minority block of stock is discounted for minority status and lack of marketability, the General Assembly believed that these discounts should not be applied if a minority shareholder is forced to sell. This change applies only to stock of non-public corporations. If there is a public market for the stock, this law is not applicable.

(2) When indemnification of a director is approved, the approval must be made by directors who are not parties. Thus, a decision to use corporate assets to protect directors will not be made by the same directors who are being sued. Effective Jan. 1, 2007.

Illinois Power of Attorney for Prop-erty Act. Public Act 94-938 extends an agent's powers under a POA to a “Totten Trust, Payable on Death Account, or a comparable trust account arrangement where the terms of such trust are contained entirely on the financial institution's signature card.” This clarifies that an agent will have access to these accounts, which was not entirely clear in current law. Effective Jan. 1, 2007.

Condominium Property Act. Public Act 94-886 amends the Condominium Property Act to prohibit condominium instruments from requiring more than a 3/4 vote of unit owners to amend the instruments. This is consistent with current law that prohibits condominium instruments from requiring more than a 3/4 vote to amend the bylaws. Effective June 20, 2006.

Teenage drivers. House Bill 94-897 re-quires teenager drivers under the age of 18 seeking a graduated driver's license to have at least 50 hours of behind-the-wheel practice instead of 25 hours. Additionally, at least 10 of those 50 hours must be at night. Effective June 22, 2006.

IMDMA and health insurance. Public Act 94-923 requires the court to order the obligor to reimburse the obligee for 50% of the premium for placing the child on her health insurance if either of the following occurs: (1) If the there is no work health insurance plan available to the obligor and the court does not enter an order requiring the obligor to cover the child on any other policy. (House Amendment No. 1 added a safe harbor of judicial discretion here by providing that this is not required if the court makes a finding that it would be inappropriate after considering the criteria in §505(a)(2)).

(2) If the obligor does not obtain health insurance for the child within 90 days of the court order requiring him to do so. (But this does not change the court's inherent power to enforce its own orders.) House Bill 4383 also authorizes the court to order the obligor to reimburse the obligee for 100% of the premium for placing the child on her insurance policy. Effective Jan. 1, 2007.

Notary required for deed. Public Act 94-821 amends the Conveyances Act to re-quire a notarized signature for conveying any deed or instrument of conveyance. But failure to comply with this provision does not invalidate the instrument. Effective Jan. 1, 2007.

Carbon monoxide alarms required in homes. Public Act 94-741 requires owners of residential homes to install an approved carbon monoxide alarm. The Act does contain some exceptions, such as if the home is not connected in any way to a garage. Effective Jan. 1, 2007.