Illinois Compiled Statutes 5 ILCS 420/1-112 – “Person with whom the legislator maintains a close economic …
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Terms Used In Illinois Compiled Statutes 5 ILCS 420/1-112
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
“Person with whom the legislator maintains a close economic association” means a person associated with the legislator in a partnership, association or professional service corporation, whether as partner, officer, employee, associate, or otherwise.