Illinois § 3003
Full text of Illinois Illinois Compiled Statutes § 3003, with citation guidance and answers to common questions.
§ 3003.
Contents of articles of incorporation. (a) The articles of incorporation shall set forth: (1) The name of the savings bank. (2) The initial location of the business office. (3) The duration of existence, which shall be perpetual unless otherwise specified. (4) The initial number of directors, not less than 5. (5) The authorization, if any, to issue deposit accounts, the aggregate amount of which may be unlimited. (6) The authorization, if any, to issue stock, the aggregate number of shares and the par value per share, which shall not be less than $1. (7) The quorum required for action of members if a quorum other than that specified in this Act is desired. (8) Any other provision, not inconsistent with law, which the subscribers or members may desire, for the internal regulation of the affairs of the savings bank. (b) A savings bank may include in its original articles of incorporation or amended articles a requirement that proposed amendments to the articles of incorporation shall be adopted by the affirmative vote of two-thirds of the total number of votes entitled to be cast. (c) The articles of incorporation need not set forth any of the powers that this Act confers. (Source: P.A. 89-74, eff. 6-30-95.)
Frequently Asked Questions About Illinois § 3003
What does Illinois Compiled Statutes § 3003 cover?
Section 3003 is part of the Illinois Compiled Statutes, the codified statutory law of Illinois. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Illinois § 3003?
A common citation format is "Illinois Compiled Statutes § 3003" (Illinois). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Illinois law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Illinois official source linked on this page or consult a licensed Illinois attorney.
How does Illinois § 3003 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Illinois can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Illinois.