Illinois § 1-25
Full text of Illinois Illinois Compiled Statutes § 1-25, with citation guidance and answers to common questions.
§ 1-25.
Nature of business. (a) A limited liability company may be formed for any lawful purpose or business except insurance unless, for the purpose of carrying on business as a member of a group including incorporated and individual unincorporated underwriters, the Director of Insurance finds that the group meets the requirements of subsection (3) of Section 86 of the Illinois Insurance Code and the limited liability company, if insolvent, is subject to liquidation by the Director of Insurance under Article XIII of the Illinois Insurance Code. (b) (Blank). (c) (Blank). (d) A limited liability company that intends to provide a professional service licensed by the Department of Financial and Professional Regulation must be formed in compliance with the Professional Limited Liability Company Act. (Source: P.A. 99-227, eff. 8-3-15; 100-894, eff. 8-14-18.)
Frequently Asked Questions About Illinois § 1-25
What does Illinois Compiled Statutes § 1-25 cover?
Section 1-25 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 § 1-25?
A common citation format is "Illinois Compiled Statutes § 1-25" (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 § 1-25 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.