2023 Illinois Compiled Statutes › Chapter 20 - EXECUTIVE BRANCH › 20 ILCS 609/ - Center for Business Ownership Succession and Employee Ownership Act.

(20 ILCS 609/1)
Sec. 1. 
		Short title. 
		This Act may be cited as the Center for Business Ownership Succession and Employee Ownership Act.
(Source: P.A. 89-364, eff. 8-18-95.)
(20 ILCS 609/2)
Sec. 2. Center for Business Ownership Succession and Employee Ownership.
(a) There may be created within the Department of Commerce and Community Affairs
(now Department of Commerce and Economic Opportunity) the Center for Business Ownership Succession and Employee Ownership.
The purpose of the Center is to foster greater awareness of the most
effective techniques that facilitate business ownership succession and
employee ownership with an emphasis on the retention and creation of job
opportunities.
(b) The Center shall have the authority to do the following:
(1) Develop and disseminate materials to promote     effective business ownership succession and employee ownership strategies.
(2) Provide counseling to individual companies and     referral services to provide professional advisors expert in the field of business ownership succession and employee ownership.
(3) Plan, organize, sponsor, or conduct conferences     and workshops on business ownership succession and employee ownership issues.
(4) Network and contract with local economic     development agencies, business organizations, and professional advisors to accomplish the goals of the Center.
(5) Raise money from private sources to support the     work of the Center.
(c) (Blank).
(Source: P.A. 96-995, eff. 1-1-11.)
(20 ILCS 609/3)
Sec. 3. 
		The Employee Ownership Assistance Act is repealed.
(Source: P.A. 89-364, eff. 8-18-95.)
(20 ILCS 609/5)
Sec. 5. 
		(Amendatory provisions; text omitted).
(Source: P.A. 89-364, eff. 8-18-95; text omitted.)
(20 ILCS 609/10)
Sec. 10. 
		(Amendatory provisions; text omitted).
(Source: P.A. 89-364, eff. 8-18-95; text omitted.)
(20 ILCS 609/15)
Sec. 15. 
		(Amendatory provisions; text omitted).
(Source: P.A. 89-364, eff. 8-18-95; text omitted.)
(20 ILCS 609/20)
Sec. 20. 
		
		The Consumer Deposit Account Act is amended by repealing Section
5.
(Source: P.A. 89-364, eff. 8-18-95.)
(20 ILCS 609/25)
Sec.  25. 
		(Amendatory provisions; text omitted).
(Source: P.A. 89-364, eff. 8-18-95; text omitted.)
(20 ILCS 609/30)
Sec. 30. 
		The Corporate Fiduciary Act is amended by repealing Section 2-9.
(Source: P.A. 89-364, eff. 8-18-95.)
(20 ILCS 609/35)
Sec. 35. 
		(Amendatory provisions; text omitted).
(Source: P.A. 89-364, eff. 8-18-95; text omitted.)
(20 ILCS 609/40)
Sec.  40. 
		(Amendatory provisions; text omitted).
(Source: P.A. 89-364, eff. 8-18-95; text omitted.)
(20 ILCS 609/43)
Sec. 43. 
		(Amendatory provisions; text omitted).
(Source: P.A. 89-364, eff. 8-18-95; text omitted.)
(20 ILCS 609/45)
Sec. 45. 
		(Amendatory provisions; text omitted).
(Source: P.A. 89-364, eff. 1-1-96; text omitted.)
(20 ILCS 609/50)
Sec. 50. 
		
		The Code of Civil Procedure is amended by repealing Section
12-702.
(Source: P.A. 89-364, eff. 1-1-96.)
(20 ILCS 609/52)
Sec. 52. 
		(Amendatory provisions; text omitted).
(Source: P.A. 89-364, eff. 8-18-95; text omitted.)
(20 ILCS 609/55)
Sec. 55. 
		(Amendatory provisions; text omitted).
(Source: P.A. 89-364, eff. 1-1-96; text omitted.)
(20 ILCS 609/60)
Sec. 60. 
		
		The Uniform Commercial Code is amended by repealing Sections
8-308, 8-309, 8-310, 8-311, 8-312, 8-313, 8-314, 8-315, 8-316, 8-317, 8-318,
8-319, 8-320, 8-321, 8-408, and 8-409.
(Source: P.A. 89-364, eff. 1-1-96.)
(20 ILCS 609/65)
Sec. 65. 
		(Amendatory provisions; text omitted).
(Source: P.A. 89-364, eff. 8-18-95; text omitted.)
(20 ILCS 609/70)
Sec. 70. 
		(Amendatory provisions; text omitted).
(Source: P.A. 89-364, eff. 8-18-95; text omitted.)
(20 ILCS 609/75)
Sec. 75. 
		(Amendatory provisions; text omitted).
(Source: P.A. 89-364, eff. 8-18-95; text omitted.)
(20 ILCS 609/80)
Sec. 80. 
		(Amendatory provisions; text omitted).
(Source: P.A. 89-364, eff. 8-18-95; text omitted.)
(20 ILCS 609/85)
Sec. 85. 
		(Amendatory provisions; text omitted).
(Source: P.A. 89-364, eff. 8-18-95; text omitted.)
(20 ILCS 609/90)
Sec. 90. 
		(Amendatory provisions; text omitted).
(Source: P.A. 89-364, eff. 8-18-95; text omitted.)
(20 ILCS 609/95)
Sec. 95. 
		The Fiduciary Surety Release Act is repealed.
(Source: P.A. 89-364, eff. 8-18-95.)
(20 ILCS 609/100)
Sec. 100. 
		(Amendatory provisions; text omitted).
(Source: P.A. 89-364, eff. 8-18-95; text omitted.)
(20 ILCS 609/105)
Sec. 105. 
		Effective date. 
		This Act takes effect upon becoming law,
except
that Sections 45, 50, 55, and 60 take effect on January 1, 1996.
(Source: P.A. 89-364, eff. 8-18-95.)