Illinois Compiled Statutes 805 ILCS 35/18 – All development credit corporations shall possess all applicable …
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Terms Used In Illinois Compiled Statutes 805 ILCS 35/18
- 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.
All development credit corporations shall possess all applicable powers and privileges granted corporations by the “Business Corporation Act of 1983″ and shall be subject to the penal and penalty provisions of that Act except as otherwise provided in this Act.