Illinois HB2924 amends the Business Corporation Act of 1983 to allow corporations to limit or eliminate cumulative voting rights.
Illinois HB2924 amends the Business Corporation Act of 1983 to allow corporations to limit or eliminate cumulative voting rights in all or specified circumstances, or to limit or deny voting rights or provide special voting rights as to any class or classes or series of shares of such corporation. The articles of incorporation of any corporation incorporated after December 31, 1981, may include these provisions. This change affects how shareholders vote on matters submitted to a vote at a meeting of shareholders and in elections for directors.
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- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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