§ 1 In order to promote, foster and encourage the intelligent and orderly …
§ 2 Definitions and short title
§ 3 Eleven (11) or more persons, a majority of whom are residents of this …
§ 4 An association may be organized under this Act for the purpose of …
§ 5 Every group of persons contemplating the organization of an …
§ 6 Each association organized under this Act shall have the following …
§ 7 Under the terms and conditions prescribed in the by-laws adopted by …
§ 8 Each association organized under this Act, shall prepare and file …
§ 9 The articles of incorporation may be altered or amended at any …
§ 10 Each association incorporated under this Act must, within thirty (30) …
§ 11 In the by-laws, each association shall provide for one or more …
§ 12 The affairs of the association shall be managed by a board of not …
§ 13 The directors shall elect from their number, a president, and one or …
§ 14 Every officer, employee and agent handling funds or negotiable …
§ 15 When a member of an association organized without capital stock, has …
§ 15.1 An association may issue its shares of stock, having no par value, …
§ 15.2 No association shall issue stock until it has been fully paid for. …
§ 15.3 No member shall be liable for the debts of the association to an …
§ 15.4 No stockholder of an association, organized hereunder, except an …
§ 15.5 No member in any association without capital stock, shall be entitled …
§ 15.6 Preferred stock may be sold to any person, member, or non-member, and …
§ 15.7 An association may, at any time, except when the debts of the …
§ 15.8 Limited Liability of directors
§ 16 Any member may bring charges against an officer or director by filing …
§ 17 Upon demand of one-third of the entire board of directors, made …
§ 18 The association and its members may make and execute marketing …
§ 19 (a) The by-laws or the marketing contract may fix, as liquidated …
§ 20 Whenever an association, organized hereunder with preferred capital …
§ 21 Each association formed or authorized to do business in Illinois …
§ 22 Any provisions of law which are in conflict with this Act shall be …
§ 23 An association may organize, form, operate, own, control, have an …
§ 24 Any association may, upon resolution adopted by its board of …
§ 25 Any co-operative association with or without capital stock as defined …
§ 26 Any corporation or association organized under any general or special …
§ 27 Any person who maliciously and knowingly spreads false reports about …
§ 28 Any person, firm or corporation who solicits or persuades or permits …
§ 29 No association as defined in this Act engaged in any of the …
§ 30 If any section of this Act shall be declared unconstitutional for any …
§ 31 Applicability of general corporation laws; mergers
§ 32 Each year, within 6 months after the end of the association’s fiscal …
§ 33 For filing articles of incorporation, an association organized …

Terms Used In Illinois Compiled Statutes > 805 ILCS 315 - Agricultural Co-Operative Act

  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Appraisal: A determination of property value.
  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Continuance: Putting off of a hearing ot trial until a later time.
  • Contract: A legal written agreement that becomes binding when signed.
  • 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.
  • County board: means the board of county commissioners in counties not under township organization, and the board of supervisors in counties under township organization, and the board of commissioners of Cook County. See Illinois Compiled Statutes 5 ILCS 70/1.07
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Executive session: A portion of the Senate's daily session in which it considers executive business.
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • General Revenue Law of Illinois: or any equivalent expression, when used with reference to revenue, shall be deemed to refer to the Property Tax Code and all existing and future amendments thereto and modifications thereof, and all rules now or hereafter adopted pursuant thereto. See Illinois Compiled Statutes 5 ILCS 70/1.23
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Heretofore: means any time previous to the day on which the statute takes effect; and the word "hereafter" at any time after such day. See Illinois Compiled Statutes 5 ILCS 70/1.17
  • 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
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Minority leader: See Floor Leaders
  • Month: means a calendar month, and the word "year" a calendar year unless otherwise expressed; and the word "year" alone, is equivalent to the expression "year of our Lord. See Illinois Compiled Statutes 5 ILCS 70/1.10
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Municipalities: has the meaning established in Section 1 of Article VII of the Constitution of the State of Illinois of 1970. See Illinois Compiled Statutes 5 ILCS 70/1.27
  • 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.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Personal property: All property that is not real property.
  • Petty offense: A federal misdemeanor punishable by six months or less in prison. Source: U.S. Courts
  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
  • Quorum: The number of legislators that must be present to do business.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • 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
  • Statute: A law passed by a legislature.
  • Temporary restraining order: Prohibits a person from an action that is likely to cause irreparable harm. This differs from an injunction in that it may be granted immediately, without notice to the opposing party, and without a hearing. It is intended to last only until a hearing can be held.
  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.
  • Trustee: A person or institution holding and administering property in trust.
  • United States: may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14