Illinois Compiled Statutes 805 ILCS 415/103 – Relationship of Act to other laws
Current as of: 2024 | Check for updates
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(a) Unless displaced by particular provisions of this Act or the organic law, the principles of law and equity supplement this Act.
(b) This Act does not authorize an act prohibited by, and does not affect, the application or requirements of law, other than this Act.
(c) A transaction effected under this Act may not create or impair any right or obligation on the part of a person under a provision of the law of this State other than this Act relating to a transaction involving a converting or domesticating entity unless:
(1) in the event the entity does not survive the
(b) This Act does not authorize an act prohibited by, and does not affect, the application or requirements of law, other than this Act.
Terms Used In Illinois Compiled Statutes 805 ILCS 415/103
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- State: when applied to different parts of the United States, may be construed to include the District of Columbia and the several territories, and the words "United States" may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14
(c) A transaction effected under this Act may not create or impair any right or obligation on the part of a person under a provision of the law of this State other than this Act relating to a transaction involving a converting or domesticating entity unless:
(1) in the event the entity does not survive the
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transaction, the transaction satisfies any requirements of the provision; or
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(2) in the event the entity survives the transaction,
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the approval of the plan is by a vote of the interest holders or governors which would be sufficient to create or impair the right or obligation directly under the provision.
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