(805 ILCS 180/Art. 10 heading)
Article 10.
Members
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(805 ILCS 180/10-1)
Sec. 10-1.
Admission of members.
After the filing
of the articles of organization, a person who acquires a
membership interest directly from the limited liability
company or is a transferee of a membership interest may be
admitted as a member with unanimous consent of
the members.
(Source: P.A. 90-424, eff. 1-1-98.)
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(805 ILCS 180/10-5)
Sec. 10-5.
(Repealed).
(Source: P.A. 87-1062. Repealed by P.A. 90-424, eff. 1-1-98.)
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(805 ILCS 180/10-10)
Sec. 10-10.
Liability of members and managers.
(a) Except as otherwise provided in subsection (d) of this Section, the
debts,
obligations, and liabilities of a limited liability company, whether arising in contract,
tort, or otherwise, are solely the debts, obligations, and liabilities of the
company. A member or manager is not personally liable
for a debt, obligation, or liability of the company solely
by reason of being or acting as a member or manager.
(b) (Blank).
(c) The failure of a limited liability company to observe the usual
company formalities or requirements relating to the exercise of its company
powers
or management of its business is not a ground for imposing personal liability
on the members or managers for liabilities of the company.
(d) All or specified members of a limited liability company are liable in
their capacity as members for all or specified debts, obligations, or
liabilities of the company if:
(1) a provision to that effect is contained in the
| | articles of organization; and
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(2) a member so liable has consented in writing to
| | the adoption of the provision or to be bound by the provision.
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(Source: P.A. 90-424, eff. 1-1-98.)
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(805 ILCS 180/10-15)
Sec. 10-15.
Member's right to information.
(a) A limited liability company shall provide members and their agents and
attorneys access to its records, including the records required to be kept
under Section 1-40, at the company's
principal place of business or other reasonable locations specified in the
operating agreement. The company shall provide former members and their
agents and attorneys access for proper purposes to records pertaining to the
period during which they were members. The right of access provides the
opportunity to inspect and copy records during ordinary business hours. The
company may impose a reasonable charge, limited to the costs of labor
and material, for copies of records furnished.
(b) A member has the right upon written demand given to the limited
liability company to obtain at the company's expense a copy of any written
operating agreement.
(Source: P.A. 90-424, eff. 1-1-98.)
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