Illinois Compiled Statutes 60 ILCS 1/30-53 – Surplus property
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Terms Used In Illinois Compiled Statutes 60 ILCS 1/30-53
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
The majority of electors present at an annual or special town meeting may declare property of the township to be surplus for purposes of donating the property to a historical society or other not-for-profit corporation as provided in Section 80-75.