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Document Type

Article

Media Type

Text

Abstract

This article examines the Illinois corporate law treatment of the so-called close corporation, and in particular the trend toward increased expansion of the fiduciary duties of close corporation shareholders. In light of a contrasting trend in the state of Delaware, the author suggests that Illinois corporate law faces a dilemma. If it does not toe the Delaware line, Illinois may be viewed as a less attractive state for incorporation vis-a-vis Delaware. On the other hand, reversing course in order to follow Delaware's lead may sacrifice the independent development of Illinois corporate law. The author intends that the article contribute to the process of understanding and evaluating of the costs and benefits of each course of action.

First Page

257

Last Page

270

Publication Date

5-1-1995

Department

Other

ISSN

0734-1490

Language

eng

Publisher

Northern Illinois University Law Review

Included in

Law Commons

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