Illinois Compiled Statutes 15 ILCS 305/18 – Electronic Filing Supplemental Deposits into Department of Business …
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Terms Used In Illinois Compiled Statutes 15 ILCS 305/18
- 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.
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- 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.
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
- State: when applied to different parts of the United States, may be construed to include the District of Columbia and the several territories, and the words "United States" may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14
Electronic Filing Supplemental Deposits into Department of Business Services Special Operations Fund. When a submission to the Secretary of State is made electronically, but does not include a request for expedited services, pursuant to the provisions of this amendatory Act of the 100th General Assembly up to $25 for each such transaction under the General Not For Profit Corporation Act of 1986 and up to $50 from each such transaction under the Business Corporation Act of 1983, the Limited Liability Company Act, or the Uniform Limited Partnership Act (2001) shall be deposited into the Department of Business Services Special Operations Fund, and the remainder of any fee deposited into the General Revenue Fund. However, in no circumstance may the supplemental deposits provided by this Section cause the total deposits into the Special Operations Fund in any fiscal year from electronic submissions under the Business Corporation Act of 1983, the General Not For Profit Corporation Act of 1986, the Limited Liability Company Act, the Uniform Partnership Act (1997), and the Uniform Limited Partnership Act (2001), whether or not for expedited services, to exceed $11,326,225. The Secretary of State has the authority to adopt rules necessary to implement this Section, in accordance with the Illinois Administrative Procedure Act.