{"data":{"id":"us-il/215-ilcs-5-35.1","jurisdiction":"us-il","citation":"215 ILCS 5/35.1","heading":"Par value of stock.","body":"(Section scheduled to be repealed on January 1, 2037)\nNo company organized after August 10, 1961 under this Article shall issue any shares of stock having a par value of less than $1.00 per share. No company organized under this article whose stock has a par value of $1.00 or more per share, or after August 10, 1961, whose stock shall be increased to $1.00 or more per share, shall decrease the par value of its stock to less than $1.00 per share; and after October 1, 1963, no such company whose stock has a par value of less than $1.00 per share shall decrease the par value below the value fixed for it on October 1, 1963. The restrictions of this Section shall not apply to a decrease in par value because of any reduction of capital under subsection (2) of Section 34.","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":"a5a31c3543d1045b3841dc761ec6dcf8bd502d1ffcf255fb6d9db8a2807792f1","source_id":"us-il","stale":false,"prev":"us-il/215-ilcs-5-35","next":"us-il/215-ilcs-5-35a-1"},"notice":"GroundRules: Original legal text. Not legal advice."}