Illinois Compiled Statutes 705 ILCS 220/3 – Any corporation violating the provisions of this Act shall be guilty …
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Terms Used In Illinois Compiled Statutes 705 ILCS 220/3
- 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.
- Petty offense: A federal misdemeanor punishable by six months or less in prison. Source: U.S. Courts
- Trustee: A person or institution holding and administering property in trust.
Any corporation violating the provisions of this Act shall be guilty of a petty offense, and shall be fined not to exceed $500, and every officer, trustee, director, agent or employee of such corporation who directly or indirectly engages in any of the acts herein prohibited or assists such corporation to do any such prohibited act or acts is guilty of a petty offense.