This By-Laws document contains the following information: the name and location of the corporation, the shareholders, and the duties of the officers.
Bylaws Of A Corporation With Change In Chicago
Category:
State:
Multi-State
City:
Chicago
Control #:
US-00444
Format:
Word;
Rich Text
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FAQ
To incorporate online, the Corporation must meet the following requirements: The name must be unique. Check the name availability to ensure this. The name must include one of the following words or abbreviations: Corporation or Corp. Company or Co. Incorporated or Inc.
There must be at least three directors. They do not have to be Illinois residents or corporation members, but you may require these and any other qualifications you choose. Restrictions and qualifications may be outlined in the Articles of Incorporation under the Other Provisions section or in the corporate by-laws.
To amend your formation documents, you'll need to file the form titled “BCA 10.30, Articles of Amendment.” This form allows for a variety of changes, including: Changing the names and addresses of directors named in the Articles of Incorporation. Altering the par value of any issued shares.
Applicants must update their officer/ownership information with the Illinois Department of Revenue by calling the Central Registration Division in Springfield at 217 785-3707.
Corporate bylaws are a company's foundational governing document. They lay out how things should run day-to-day and the processes for making important decisions. They serve as a legal contract between the corporation and its shareholders, directors, and officers and set the protocol for how the organization operates.
Corporate bylaws are legally required in Illinois. Illinois statute §805 ILCS 5/2.20 requires that bylaws be adopted either by shareholders at the first shareholder meeting or by directors at the initial director meeting.
Having a corporate seal is no longer mandatory by Illinois statute, but including this language will document the fact that the company either does or does not use a seal.
How to Transfer Ownership of a Corporation Consult your Articles of Incorporation and corporate bylaws. Contact the board of directors or shareholders. Find a buyer. Transfer ownership of stock. Inform the Secretary of State.
A business license is mandatory for most businesses operating in Chicago, ensuring compliance with local regulations and standards. The application process involves gathering necessary documents, understanding zoning requirements, and can take up to 90 days, with guidance available from the Small Business Center.
Corporate bylaws are legally required in Illinois. Illinois statute §805 ILCS 5/2.20 requires that bylaws be adopted either by shareholders at the first shareholder meeting or by directors at the initial director meeting.