Topic:
Business Corporation Act
(Harmon, D-Oak Park) amends this Act affecting director and officer liability if the entity has been dissolved. It provides that directors, officers, and others are not liable for liabilities incurred during periods of administrative dissolution if the entity is reinstated. Makes similar changes to the General Not For Profit Corporation Act of 1986, Limited Liability Company Act, and Uniform Limited Partnership Act (2001). Passed the Senate and now in the House.