Illinois Administrative Code
Title 14 - COMMERCE
Part 150 - BUSINESS CORPORATION ACT
Subpart F - FEES, FRANCHISE TAX AND LICENSE FEES: ANNUAL REPORT
Section 150.630 - Shares Having a Par Value
Universal Citation: 14 IL Admin Code ยง 150.630
Current through Register Vol. 48, No. 12, March 22, 2024
The consideration received at the time of the issuance of shares or, in the case of shares issued as a share dividend, the amount added or transferred to the paid-in capital for or on account of the issuance of shares cannot be less than the aggregate par value of the shares issued, and at no time shall the paid-in capital be an amount less than the aggregate par value of all issued shares.
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