Business Advice and Financial Planning

Public Act 102-160

Topic: 
Electronic Notaries

(Holmes, D-Aurora; Kifowit, D-Aurora) amends the Illinois Notary Public Act providing requirements authorizing electronic and remote notarization and electronic notaries public. Effective on the later of: (1) January 1, 2022; or (2) the date on which the Secretary of State files with its Index Department a notice of its adoption of rules necessary to implement this Act. Some parts of the Act take effect on July 1, 2022. 

Public Act 102-140

Topic: 
POLST Forms

(Feigenholtz, D-Chicago; Gabel, D-Evanston) removes the requirement for a witness signature on the form. It authorizes recognition of the IDPH Uniform POLST form, National POLST form, other formally sanctioned forms created in the fashion of the National POLST Paradigm, or out-of-hospital DNR orders faithfully executed in other states. Effective Jan. 1, 2022.

Senate Bill 730

Topic: 
The Electronic Wills and Remote Witnesses Act

(Crowe, D-Maryville; Didech, D-Buffalo Grove) provides for (1) the valid execution, attestation, self-proving, and probate of electronic wills, paper copies of electronic wills, and wills attested to by witnesses through audio-video communication; and (2) the valid execution, attestation, and witnessing of documents, other than wills, through audio-visual communication. The Governor signed it yesterday, and it took effect on his signature. 

Senate Bill 116

Topic: 
Business Corporation Act

(Morrison, D-Highwood; Morgan, D-Highwood) makes several change sto the Business Corporation Act. (1) It amends Section 7.05  to provide that shareholder meetings can be held through means of remote communication if the corporation implements reasonable measures to ensure  (a) that each person participating remotely is a shareholder; and (b) that shareholders participating remotely have a reasonable opportunity to participate in the meeting and to vote on resolutions considered at the meeting. It allows for both fully remote shareholder meetings and hybrid meetings at which some shareholders are present in person and some shareholders participate remotely. 

To facilitate remote shareholder meetings, Section 7.15 is amended to provide that the means of remote communication must be included in the notice of shareholders meeting and amends Section 7.30 to provide that lists of shareholders eligible to vote at the meeting may be maintained on a reasonably accessible electronic network.

Senate Bill 116 also creates a new Section 14.13 that allows for the filing by corporations of interim changes to the corporation’s name, address, officers, directors, principal office, or minority-owned business status. 

Senate Bill 116 also amends the Limited Liability Company Act to allow terminated limited liability companies to revoke their termination within 90 days of the effective date of termination if the company has not begun to distribute its assets or commenced proceedings for a court supervision of its winding up.  The LLC Act is also amended to allow voluntarily terminated limited liability companies to be reinstated upon the filing of all reports and the payment of all fees and penalties then due. 

Passed both chambers. Effective Jan. 1, 2022. 

 

Senate Bill 2664

Topic: 
Electronic notaries

(Holmes, D-Aurora; Kifowit, D-Aurora) amends the Illinois Notary Public Act providing requirements authorizing electronic and remote notarization and electronic notaries public. Effective on the later of: (1) January 1, 2022; or (2) the date on which the Secretary of State files with its Index Department a notice of its adoption of rules necessary to implement this Act.

Senate Bill 730

Topic: 
Electronic Wills and Remote Witnesses Act

(Crowe, D-Maryville; Didech, D-Buffalo Grove) provides for (1) the valid execution, attestation, self-proving, and probate of electronic wills, paper copies of electronic wills, and wills attested to by witnesses through audio-video communication; and (2) the valid execution, attestation, and witnessing of documents, other than wills, through audio-visual communication. Passed both chambers. Effective on the Governor’s signature.  

Uncle Tom's, Inc. v. Lynn Plaza, LLC

Illinois Appellate Court
Civil Court
Forcible Entry & Detainer
Citation
Case Number: 
2021 IL App (1st) 200205
Decision Date: 
Friday, May 21, 2021
District: 
1st Dist.
Division/County: 
Cook Co., 6th Div.
Holding: 
Affirmed in part and reversed in part.
Justice: 
MIKVA

Plaintiff restaurant is estopped from challenging the inclusion of reasonable management fees and ComEd leasehold charges in the common area maintenance (CAM) charges that it is required to pay a portion of under the parties' lease. Plaintiff knew about the management fees, had, more than 20 years prior, engaged an attorney who disputed the new charges in writing and received an explanation for their inclusion in the CAM costs. Thus, Plaintiff knew what it was being charged when it executed the estoppel certificate.Plaintiff did not violate the purpose clause of the lease when it added video gaming terminals to its restaurant and liquor lounge. Video gaming is a lawful activity that licensed liquor lounges may engage in that Plaintiff did not, by adding a small number of gaming terminals to its bar and restaurant, take on a qualitatively different purpose in violation of the parties' lease. (CONNORS and HARRIS, concurring.)