Illinois Clauses Relating to Venture Officers
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9.05. Power of corporation to acquire its own shares. (a) A corporation may acquire its own shares, subject to limitations set forth in Section 9.10 of this Act.
No rental company shall require any payment for damage to the rental vehicle, upon the renter's return of the vehicle in a damaged condition, until after the cost of the damage to the vehicle and liability therefor is agreed to between the rental company and renter or is determined pursuant to law.
To be precise, Section 7.75 provides a right of shareholder inspection. Our discussion of the common law right or claim to an accounting is here. Any shareholder of record can inspect books, records, and minutes. The purpose of this statutory right is to promote corporate transparency.
Under Illinois law, pursuant to 625 ILCS 5/6-303, it is unlawful for a person to drive or be in actual physical control of a motor vehicle when their driver's license, permit, or privilege to do so or the privilege to obtain a driver's license or permit is revoked or suspended.
9.20. Reduction of paid-in capital. bankruptcy that specifically directs the reduction to be effected. (b) Notwithstanding anything to the contrary contained in this Act, at no time shall the paid-in capital be reduced to an amount less than the aggregate par value of all issued shares having a par value.
Sec. 11-906. Vehicle entering highway from private road or driveway. The driver of a vehicle about to enter or cross a highway from an alley, building, private road or driveway shall yield the right-of-way to all vehicles approaching on the highway to be entered.
(d) If a driver is involved in a collision at an intersection or interferes with the movement of other vehicles after driving past a yield right-of-way sign, such collision or interference shall be deemed prima facie evidence of the driver's failure to yield right-of-way. (Source: P.A. 76-1739.)
Sec. 6-301. Unlawful use of license or permit. services of another person to submit to an examination for the purpose of obtaining a drivers license or permit for some other person.