LLC-MEMBER LIABILITY & DUTIES Senate SponsorsSen. Rachelle Crowe 1/13/2021SenateSession Sine Die 805 ILCS 180/10-10805 ILCS 180/15-5Amends the Limited Liability Company Act. Deletes a provision that provides that all or specified members of a limited liability company are liable in their capacity as members for all or specified debts, obligations, or liabilities of the company if: (i) a provision to that effect is contained in the articles of organization and (ii) a member so liable has consented in writing to the adoption of the provision or to be bound by the provision. Provides that with respect to imposing liability upon a member because of a member's personal conduct, nothing in the Act shall be deemed to limit the effect of law other than the Act. Provides that a limited liability company's operating agreement may not restrict the duty to act fairly as described in the Act. Provides that the operating agreement may identify the standards by which the obligation to act fairly is measured. 2/15/2019SenateFiled with Secretary by Sen. Don Harmon 2/15/2019SenateFirst Reading 2/15/2019SenateReferred to Assignments 2/27/2019SenateAssigned to Judiciary 3/5/2019SenateDo Pass Judiciary; 009-000-000 3/5/2019SenatePlaced on Calendar Order of 2nd Reading 4/9/2019SenateSecond Reading 4/9/2019SenatePlaced on Calendar Order of 3rd Reading April 10, 2019 4/12/2019SenateRule 3-9(a) / Re-referred to Assignments 2/25/2020SenateChief Sponsor Changed to Sen. Rachelle Crowe 1/13/2021SenateSession Sine Die