{"data":{"id":"us-il/805-ilcs-40-2.05","jurisdiction":"us-il","citation":"805 ILCS 40/2.05","heading":"Election of status.","body":"(a) A corporation may become a benefit corporation under this Act by amending its articles of incorporation so that they contain a statement that the corporation is a benefit corporation. In order to be effective, the amendment must be adopted by at least the minimum status vote.\n(b) For any entity that is a party to a merger or consolidation or is the exchanging entity in a share exchange, where the surviving, new, or resulting entity in the merger, consolidation, or share exchange is intended to be a benefit corporation, such plan of merger, consolidation, or share exchange must be adopted by at least the minimum status vote in order to be effective.","path":["CHAPTER 805 BUSINESS ORGANIZATIONS","Benefit Corporation Act."],"source_url":"https://www.ilga.gov/legislation/ILCS/details?ActID=3419\u0026ChapterID=65\u0026ChapAct=FullText\u0026Print=True","current_through":"at least Public Act 104-790","vintage":"","retrieved_at":"2026-09-15T04:46:47Z","sha256":"f82ddc1610c5038fd4fe5f341468ac8c3e17b59d80d93a0325256a7cf615770a","source_id":"us-il","stale":false,"prev":"us-il/805-ilcs-40-2.01","next":"us-il/805-ilcs-40-2.10"},"notice":"GroundRules: Original legal text. Not legal advice."}