{"data":{"id":"us-il/215-ilcs-5-12","jurisdiction":"us-il","citation":"215 ILCS 5/12","heading":"By-laws.","body":"(Section scheduled to be repealed on January 1, 2037)\n(1) The incorporators shall adopt by-laws for the company and such by-laws may not be altered, amended, or repealed, prior to the issuance of a certificate of authority to the company, except by written consent of subscribers representing at least two-thirds of the shares subscribed, and the approval of the Director.\n(2) After a certificate of authority is issued to a company, the power to make, alter, amend or repeal by-laws shall be vested in the board of directors unless reserved to the shareholders by the articles of incorporation.","path":["CHAPTER 215 INSURANCE","Illinois Insurance Code."],"source_url":"https://www.ilga.gov/legislation/ILCS/details?ActID=1249\u0026ChapterID=22\u0026ChapAct=FullText\u0026Print=True","current_through":"at least Public Act 104-790","vintage":"","retrieved_at":"2026-09-15T04:46:30Z","sha256":"adcd0a88e563567c4aafe2cf78002bdd6c5be487e92a8e5bb26c4aff57fd958b","source_id":"us-il","stale":false,"prev":"us-il/215-ilcs-5-11","next":"us-il/215-ilcs-5-13"},"notice":"GroundRules: Original legal text. Not legal advice."}