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SB0533 Engrossed LRB094 09955 RXD 40213 b AN ACT concerning business.
SB0533 Enrolled LRB094 09955 RXD 40213 b AN ACT concerning business.
SB0533 Engrossed - 2 - LRB094 09955 RXD 40213 b (d) Shares that cannot be voted because of a waiver under this Section shall not be counted in determining the number of shares necessary for a quorum or for shareholder action under Section 7.60 of this Act.
SB0533 Enrolled - 2 - LRB094 09955 RXD 40213 b (d) Shares that cannot be voted because of a waiver under this Section shall not be counted in determining the number of shares necessary for a quorum or for shareholder action under Section 7.60 of this Act.
or SB0533 Engrossed - 3 - LRB094 09955 RXD 40213 b (3) The directors or those in control of the corporation have acted, are acting, or will act in a manner that is illegal, oppressive, or fraudulent with respect to the petitioning shareholder whether in his or her capacity as a shareholder, director, or officer;
or SB0533 Enrolled - 3 - LRB094 09955 RXD 40213 b (3) The directors or those in control of the corporation have acted, are acting, or will act in a manner that is illegal, oppressive, or fraudulent with respect to the petitioning shareholder whether in his or her capacity as a shareholder, director, or officer;
or (12) The dissolution of the corporation if the court determines that no remedy specified in subdivisions (1) SB0533 Engrossed - 4 - LRB094 09955 RXD 40213 b through (11) or other alternative remedy is sufficient to resolve the matters in dispute.
or (12) The dissolution of the corporation if the court determines that no remedy specified in subdivisions (1) SB0533 Enrolled - 4 - LRB094 09955 RXD 40213 b through (11) or other alternative remedy is sufficient to resolve the matters in dispute.
(iv) Require the seller to deliver all of his or her shares to the purchaser upon receipt of the purchase price or the first installment of the purchase SB0533 Engrossed - 5 - LRB094 09955 RXD 40213 b price;
(iv) Require the seller to deliver all of his or her shares to the purchaser upon receipt of the purchase price or the first installment of the purchase SB0533 Enrolled - 5 - LRB094 09955 RXD 40213 b price;
(f) When the relief requested by the petition includes the purchase of the petitioner’s shares, then at At any time within 90 days after the filing of the petition under this Section, or at such time determined by the court to be equitable, the corporation or one or more shareholders may elect to purchase all, but not less than all, of the shares owned by the SB0533 Engrossed - 6 - LRB094 09955 RXD 40213 b petitioning shareholder for their fair value.
(f) When the relief requested by the petition includes the purchase of the petitioner’s shares, then at At any time within 90 days after the filing of the petition under this Section, or at such time determined by the court to be equitable, the corporation or one or more shareholders may elect to purchase all, but not less than all, of the shares owned by the SB0533 Enrolled - 6 - LRB094 09955 RXD 40213 b petitioning shareholder for their fair value.
(4) After an election has been filed by the corporation or one or more shareholders, the proceeding filed under this Section may not be discontinued or settled, nor may the petitioning shareholder sell or otherwise dispose of SB0533 Engrossed - 7 - LRB094 09955 RXD 40213 b his or her shares, unless the court determines that it would be equitable to the corporation and the shareholders, other than the petitioner, to permit the discontinuance, settlement, sale, or other disposition.
(4) After an election has been filed by the corporation or one or more shareholders, the proceeding filed under this Section may not be discontinued or settled, nor may the petitioning shareholder sell or otherwise dispose of SB0533 Enrolled - 7 - LRB094 09955 RXD 40213 b his or her shares, unless the court determines that it would be equitable to the corporation and the shareholders, other than the petitioner, to permit the discontinuance, settlement, sale, or other disposition.
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