Illinois Compiled Statutes 70 ILCS 3615/1.04 – Establishment of Authority
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Illinois Compiled Statutes 70 ILCS 3615/1.04
- 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.
A regional transportation authority shall be established upon a favorable vote at the referendum held as provided in Section 1.05 of this Act. Upon its establishment the Authority shall be a unit of local government, body politic, political subdivision and municipal corporation.