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Wednesday, December 16, 2020 Although fiduciary duties typically protect minority shareholders, under Illinois law, shareholders of close corporations and regular corporations that look like close corporations may owe fiduciary duties to other shareholders and to their corporations. Minority shareholders should consider taking steps to eliminate any fiduciary duties that they might owe. When acquiring shares in a corporation, minority shareholders often evaluate the profitability of the corporation, the value of their shares, and what protections are in place to shield them from wrongdoing at the hands of the controlling shareholders. Most minority shareholders likely believe that they do not owe any obligations to their fellow shareholders or to the corporation. But under Illinois law, minority shareholders of certain types of corporations may actually owe fiduciary duties even if they are not directors or officers of those corporations.

United statesIllinois rockford corpMinority shareholders may oweUnder whatIllinois business corporations actClose corporationsShareholders may be ableAvoid owing fiduciaryIllinois close corporations actIllinois rockfordஒன்றுபட்டது மாநிலங்களில்இல்லினாய்ஸ் ராக்ஃபோர்ட் கார்ப்சிறுபான்மை பங்குதாரர்கள் இருக்கலாம் ஓகீழ் என்னஇல்லினாய்ஸ் வணிக நிறுவனங்கள் நாடகம்நெருக்கமான நிறுவனங்கள்