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Code · Illinois · Chapter 805 — BUSINESS ORGANIZATIONS · Act 180

Sec. 5-1. Organization.

134 words·~1 min read·/il/chapter-805/act-180/5-1

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Sec. 5-1. Organization.
(a)One or more persons, other than natural persons under 18 years of age, may organize a limited liability company by executing and delivering articles of organization to the Secretary of State as specified in Sections 5-5 and 5-45. The organizers need not be members of the limited liability company. Each organizer of a limited liability company organized to engage in the practice of medicine shall be a licensed physician of this State or an attorney licensed to practice law in this State. The execution of the articles of organization constitutes an affirmation by the person, under penalty of perjury, that the facts stated therein are true.
(b)A limited liability company shall have one or more members.
(c)A limited liability company is a legal entity distinct from its members.
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