§ 35-25 — Grounds for administrative dissolution

Illinois § 35-25

• Jurisdiction: Illinois
• Topic: BUSINESS AND EMPLOYMENT
• Ch. 805: BUSINESS ORGANIZATIONS
• Act 805 ILCS 180/: Limited Liability Company Act.
• Art.: Article 35 - Dissolution And Dissociation

Text

The Secretary of State may dissolve any limited liability company administratively if: (1) it has failed to file its annual report and pay its fee as required by this Act before the first day of the anniversary month or has failed to pay any fees, penalties, or charges required by this Act; (2) it has failed to file in the Office of the Secretary of State any report after the expiration of the period prescribed in this Act for filing the report; (2.5) it has misrepresented any material matter in any application, report, affidavit, or other document submitted by the limited liability company under this Act; (3) it has failed to appoint and maintain a registered agent in Illinois in accordance with the provisions of this Act; (4) a manager or member to whom interrogatories have been propounded by the Secretary of State as provided in Section 5-60 of this Act fails to answer the interrogatories fully and to timely file the answer in the office of the Secretary of State; or (5) it has tendered payment to the Secretary of State which is returned due to insufficient funds, a closed account, or for any other reason, and acceptable payment has not been subsequently tendered.

Legislative History

(Source: P.A. 98-171, eff. 8-5-13; 99-608, eff. 7-22-16.)