(a) There may be created within the Department of Commerce and Community Affairs (now Department of Commerce and Economic Opportunity) the Center for Business Ownership Succession and Employee Ownership.
     The purpose of the Center is to foster greater awareness of the most effective techniques that facilitate business ownership succession and employee ownership with an emphasis on the retention and creation of job opportunities.

Terms Used In Illinois Compiled Statutes 20 ILCS 609/2

  • Contract: A legal written agreement that becomes binding when signed.
  • individual: shall include every infant member of the species homo sapiens who is born alive at any stage of development. See Illinois Compiled Statutes 5 ILCS 70/1.36

     (b) The Center shall have the authority to do the following:
         (1) Develop and disseminate materials to promote
effective business ownership succession and employee ownership strategies.
        (2) Provide counseling to individual companies and
referral services to provide professional advisors expert in the field of business ownership succession and employee ownership.
        (3) Plan, organize, sponsor, or conduct conferences
and workshops on business ownership succession and employee ownership issues.
        (4) Network and contract with local economic
development agencies, business organizations, and professional advisors to accomplish the goals of the Center.
        (5) Raise money from private sources to support the
work of the Center.
    (c) (Blank).