U OF I-INTELLECTUAL PROPERTY Senate SponsorsSen. Chapin Rose 1/13/2021SenateSession Sine Die 110 ILCS 305/105 newAmends the University of Illinois Act. Provides that notwithstanding any other provisions of law, the University may form one or more limited liability companies to own any current or future intellectual property attributable to the University pursuant to the Limited Liability Company Act. Requires the University to maintain a 51% ownership interest in any limited liability company formed. Allows the intellectual property to be held as a tenancy in common with all entities that hold an ownership interest in the company. Requires the payment of distributions. 2/7/2019SenateFiled with Secretary by Sen. Chapin Rose 2/7/2019SenateFirst Reading 2/7/2019SenateReferred to Assignments 3/12/2019SenateAssigned to Higher Education 3/20/2019SenatePostponed - Higher Education 3/22/2019SenateRule 3-9(a) / Re-referred to Assignments 1/13/2021SenateSession Sine Die