{"data":{"id":"us-il/215-ilcs-5-35b-20","jurisdiction":"us-il","citation":"215 ILCS 5/35B-20","heading":"Requirements of a plan of division.","body":"(a) A domestic stock company shall not file a plan of division with the Director unless the plan of division has been approved in accordance with:\n(1) any applicable provisions of its articles of incorporation and bylaws; and\n(2) all laws of this State governing the internal affairs of a domestic stock company that provide for approval of a merger.\n(b) If any provision of the articles of incorporation or bylaws of a domestic stock company requires that a specific number or percentage of board of directors or shareholders approve the proposal or adoption of a plan of merger, or imposes other special procedures for the proposal or adoption of a plan of merger, such domestic stock company shall adhere to such provision in proposing or adopting a plan of division. If any provision of the articles of incorporation or bylaws of a domestic stock company is amended, such amendment shall thereafter apply to a division only in accordance with its express terms.","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":"1269e5099097f8c7ae7b0878ab2c421414013eb37ee7afd47d740aea6dcd9e2a","source_id":"us-il","stale":false,"prev":"us-il/215-ilcs-5-35b-15","next":"us-il/215-ilcs-5-35b-25"},"notice":"GroundRules: Original legal text. Not legal advice."}