Nonprofits now allowed for agricultural compost cooperativesJanuary 2014Illinois Law Update, Page 16The General Not For Profit Corporation Act of 1986 has been amended to allow for the formation of nonprofits for the purpose of cooperatively owning and operating agriculture-based anaerobic digestion systems.
Shareholder Drag-Along Rights in IllinoisBy Markus MayJune 2012Article, Page 320Drag-along rights let majority shareholders force others to sell at the same price and on the same terms, making the shares more valuable. The author argues they should be enforceable in Illinois and offers a checklist for drafting drag-along provisions.
Advancing D&O Litigation Expenses: The Power of the PerkBy Jennifer A. Waters and Peter V. BaugherJanuary 2011Article, Page 36Many companies promise officers and directors an advance of litigation expenses for suits filed against them. But employers may be surprised by the potential costs of this perk.
So you want to be house counselBy Helen W. GunnarssonJanuary 2010LawPulse, Page 10Be sure to give your prospective employer a thorough going-over before you say "yes".
Electronic Voting for NonprofitsBy Michael J. HuftDecember 2009Column, Page 634Learn about new amendments to the Illinois General Not For Profit Corporation Act.
When Can You Defend Both a Corporation and Its Officers?By Richard L. Miller, II and Joshua E. LiebmanDecember 2009Article, Page 618When they're sued, corporations and their officers often turn to the corporation's lawyer. But look out for conflicts of interest before you undertake joint representation.
Changes Made to Business Corporation ActSeptember 2007Illinois Law Update, Page 460The Secretary of State has amended the rules governing the Business Corporation Act (Act), 805 ILCS 5/1.01 et seq, and has added a section that concerns amending a previously filed annual report.
No breach of fiduciary duty in mergerMay 2007Illinois Law Update, Page 236On March 8, 2007, the Illinois Appellate Court, First District, affirmed the Circuit Court of Cook County's dismissal of the plaintiffs' breach of fiduciary claims against members of Bank One's board of directors.