ILCS » Chapter 805 · Act 105
Illinois Compiled Statutes

805 ILCS 105/103.20 (2026)

Unauthorized assumption of corporate powers

✓ current as of May 2026
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(805 ILCS 105/103.20) (from Ch. 32, par. 103.20)
    Sec. 103.20. Unauthorized assumption of corporate powers. All persons who assume to exercise corporate powers without authority to so do shall be jointly and severally liable for all debts and liabilities incurred or arising as a result thereof.
(Source: P.A. 84-1423.)

    
Notes of Decisions
Cited in 1 case, 2012–2012 · leading case: Goldberg v. Astor Plaza Condo. Ass'n, 2012 IL App (1st) 110620 (Ill. App. Ct. 2012).
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Goldberg v. Astor Plaza Condo. Ass'n, 2012 IL App (1st) 110620 (Ill. App. Ct. 2012). “20 of the Not For Profit Act (805 ILCS 105/103.20 (West 2008)). The complaint alleges that the individual defendants conspired to negotiate a financial agreement for the renovation project “which ran contrary to that initially disclosed to the unit owners, for a greater sum of…”
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