Illinois Compiled Statutes 610 ILCS 70/1.1 – This Act does not apply to railroads incorporated after July 1, 1985, …
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Terms Used In Illinois Compiled Statutes 610 ILCS 70/1.1
- 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.
This Act does not apply to railroads incorporated after July 1, 1985, or to railroads which are reincorporated under the Business Corporation Act of 1983, as amended.