Illinois § 13.50 Grounds for revocation of authority

Illinois Statutes

§ 13.50 — Grounds for revocation of authority

Illinois § 13.50

JurisdictionIllinois

TopicBUSINESS AND EMPLOYMENT

Ch. 805BUSINESS ORGANIZATIONS

Act 805 ILCS 5/Business Corporation Act of 1983.

Art.Article 13 - Foreign Corporations

This text of Illinois § 13.50 (Grounds for revocation of authority) is published on Counsel Stack Legal Research, covering Illinois primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

805 Ill. Comp. Stat. 13.50 (2026).

Text

The authority of a foreign corporation to transact business in this State may be revoked by the Secretary of State:

(a)Upon the failure of an officer or director to whom interrogatories have been propounded by the Secretary of State as provided in this Act, to answer the same fully and to file such answer in the office of the Secretary of State.

(b)If the answer to such interrogatories discloses, or if the fact is otherwise ascertained, that the proportion of the sum of the paid-in capital of such corporation represented in this State is greater than the amount on which such corporation has theretofore paid fees and franchise taxes, and the deficiency therein is not paid.

(c)If the corporation for a period of one year has transacted no business and has had no tangible property in this S

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The authority of a foreign corporation to transact business in this State may be revoked by the Secretary of State: (a) Upon the failure of an officer or director to whom interrogatories have been propounded by the Secretary of State as provided in this Act, to answer the same fully and to file such answer in the office of the Secretary of State. (b) If the answer to such interrogatories discloses, or if the fact is otherwise ascertained, that the proportion of the sum of the paid-in capital of such corporation represented in this State is greater than the amount on which such corporation has theretofore paid fees and franchise taxes, and the deficiency therein is not paid. (c) If the corporation for a period of one year has transacted no business and has had no tangible property in this State as revealed by its annual reports. (d) Upon the failure of the corporation to keep on file in the office of the Secretary of State duly authenticated copies of each amendment to its articles of incorporation. (e) Upon the failure of the corporation to appoint and maintain a registered agent in this State. (f) (Blank). (g) Upon the failure of the corporation to file any report after the period prescribed by this Act for the filing of such report. (h) Upon the failure of the corporation to pay any fees, franchise taxes, or charges prescribed by this Act. (i) For misrepresentation of any material matter in any application, report, affidavit, or other document filed by such corporation pursuant to this Act. (j) Upon the failure of the corporation to renew its assumed name or to apply to change its assumed name pursuant to the provisions of this Act, when the corporation can only transact business within this State under its assumed name in accordance with the provisions of Section 4.05 of this Act. (k) When under the provisions of the "Consumer Fraud and Deceptive Business Practices Act" a court has found that the corporation substantially and willfully violated such Act. (l) Upon tender of payment to the Secretary of State which is subsequently returned due to insufficient funds, a closed account, or any other reason, and acceptable payment has not been subsequently tendered. (m) When the Secretary of State receives a copy of a memorandum of judgment relating to a judgment entered for money owed to a unit of local government or school district, together with a statement filed by its attorney that the judgment has not been satisfied and that no appeal has been filed.