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Reset Formica 36Illinois Limited Worker Cooperative Association Act September 2021FILE # Due prior to:Annual Report Secretary of State Department of Business Services Limited Liability Division 501
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Who needs illinois limited worker cooperative?

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Illinois Limited Worker Cooperative is needed by individuals or groups who wish to establish a worker-owned cooperative in the state of Illinois. This legal structure is suitable for businesses that want to operate democratically and collectively, allowing the workers to have a direct stake and control in the decision-making processes.
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An Illinois limited worker cooperative is a type of business entity that combines worker ownership with the limited liability protection of a corporation.
Any group of workers who wish to form a cooperative in Illinois and want the benefits of limited liability protection.
To fill out the necessary paperwork to form an Illinois limited worker cooperative, you will need to follow the guidelines provided by the Illinois Secretary of State's office.
The purpose of an Illinois limited worker cooperative is to allow workers to collectively own and manage a business while also protecting their personal assets through limited liability.
Information such as the names of the worker-owners, the business address, the purpose of the cooperative, and any other details required by the Illinois Secretary of State.
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