Illinois HB 2340: GOVERNMENT ETHICS-TECHNICAL

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 House Amendment 001 
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HB2340 EnrolledLRB104 09676 BDA 19742 b

1 AN ACT concerning wildlife.

2 Be it enacted by the People of the State of Illinois, 

3represented in the General Assembly:

4 Section 5. The Wildlife Code is amended by changing 

5Section 3.1-6 as follows:

6 (520 ILCS 5/3.1-6)

7 Sec. 3.1-6. Special deer, turkey, and combination hunting 

8licenses.

9 (a) For the purpose of this Section:

10 "Bona fide equity member" means an individual who:

11 (1) (i) became a member upon the formation of the 

12 limited liability company or (ii) has purchased a 

13 distributional interest in a limited liability company for 

14 a value equal to the percentage of the appraised value of 

15 the LLC assets represented by the distributional interest 

16 in the LLC and subsequently becomes a member of the 

17 company under Article 30 of the Limited Liability Company 

18 Act; and

19 (2) intends to retain the membership for at least 5 

20 years.

21 "Bona fide equity partner" means an individual who:

22 (1) (i) became a partner, either general or limited, 

23 upon the formation of a partnership or limited 

HB2340 Enrolled- 2 -LRB104 09676 BDA 19742 b

1 partnership, or (ii) has purchased, acquired, or been 

2 gifted a partnership interest accurately representing his 

3 or her percentage distributional interest in the profits, 

4 losses, and assets of a partnership or limited 

5 partnership;

6 (2) intends to retain ownership of the partnership 

7 interest for at least 5 years; and

8 (3) is a resident of this State.

9 "Bona fide equity shareholder" means an individual who:

10 (1) purchased, for market price, publicly so