HB 1427 — Waivers for Dissolved Corporations Due to Military Service. Allows the Secretary of State to waive reinstatement fees and procedures in the event a corporation was administratively dissolved due to a failure to file an annual registration report when the failure was due to the business owner's active military service. The Secretary of State will waive all late fees, cancel the certificate of dissolution, and reinstate the corporation in these circumstances. (Signed 6/21/06)

CCS SS SCS HCS HB 1698, 1236, 995, 1362 & 1290 — Sexual Offenders. (See Criminal Law)

HB 1715 — Corporations. Changes the procedure for the sale of stock shares by dissenting shareholders of a corporation which is a party to a merger or consolidation. To be eligible, a shareholder must:

(1) Own stock of the corporation undergoing a merger or consolidation as of the date of the shareholder meeting when the merger plan was submitted to a vote;

(2) File a written objection to the merger before or in the meeting at which the merger is submitted to a vote;

(3) Vote in opposition to the merger proposal; and

(4) File a written demand with the new corporation for payment of the fair value of the shares within 20 days after the merger.

Any shareholder not satisfying the above requirements will be conclusively presumed to have consented to the merger. Corporations are required to provide notice to each shareholder owning stock as of the record date for the meeting at which the merger is submitted to a vote, whether or not the shareholder is entitled to vote. (Signed 7/10/06)

HB 1827 — Group Health Insurance. (See Insurance Law)

SB 645 — Business Use Incentives for Large-Scale Development. (See Local Government Law)

SB 845 — Waivers for Dissolved Corporations Due to Military Service. Allows the Secretary of State to waive reinstatement fees and procedures in the event a corporation was administratively dissolved due to a failure to file an annual registration report when the failure was due to the business owner's active military service. The Secretary of State will waive all late fees, cancel the certificate of dissolution, and reinstate the corporation in these circumstances. (Signed 6/21/06)

SB 1094 — Special Business Districts in Springfield. (See Local Government Law)

SB 1208 — Articles of Incorporation for Corporations. Allows a company's board of directors to present a resolution directly to its shareholders without prior adoption by the board of directors. (Signed 7/10/06)