Illinois House of Representatives bill in Session 104.
Status: enrolled. Latest action: May 13, 2026.
CORPORATE OPPORTUNITIES.
Amends the Business Corporation Act of 1983. Provides that, subject to any contrary provision in the articles of incorporation of a corporation, a director, officer, key employee, or other fiduciary of the corporation shall not take advantage of a corporate opportunity unless the person first tenders the opportunity to the corporation and the corporation rejects the opportunity. Provides that, if the rejection is by a disinterested board of directors or by disinterested shareholder action, the director, officer, key employee, or other fiduciary of the corporation may then take advantage of the opportunity. Effective immediately.
| Date | Event | Detail |
|---|---|---|
| 2026-01-14 | Introduced | Bill introduced |
| 2026-05-13 | Status | enrolled |
| 2026-05-13 | Latest Action | 5/13/2026 - House: |