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Code · Illinois · Chapter 805 — BUSINESS ORGANIZATIONS · Act 317

Sec. 16. Application of the Limited Liability Company Act.

75 words·~1 min read·/il/chapter-805/act-317/16

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Sec. 16. Application of the Limited Liability Company Act. The Limited Liability Company Act applies to limited worker cooperative associations, and they shall enjoy the powers and privileges and be subject to the duties, restrictions, and liabilities of limited liability companies, except where inconsistent with the letter and purpose of this Act. This Act shall take precedence in the event of any conflict with the provisions of the Limited Liability Company Act or other laws.
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