Illinois § 5-50 Amendment or termination by judicial act

Illinois Statutes

§ 5-50 — Amendment or termination by judicial act

Illinois § 5-50

JurisdictionIllinois

TopicBUSINESS AND EMPLOYMENT

Ch. 805BUSINESS ORGANIZATIONS

Act 805 ILCS 180/Limited Liability Company Act.

Art.Article 5 - Organization

This text of Illinois § 5-50 (Amendment or termination by judicial act) 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. 5-50 (2026).

Text

If a person required by Section 5-45 to execute an amendment or statement of termination fails or refuses to do so, any other member and any transferee of a limited liability company interest, who is adversely affected by the failure or refusal, may petition a court to direct the amendment or statement of termination. If the court finds that the amendment or statement of termination is proper and that any person so designated has failed or refused to execute the amendment or statement of termination, it shall order the Secretary of State to record an appropriate amendment or statement of termination.

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If a person required by Section 5-45 to execute an amendment or statement of termination fails or refuses to do so, any other member and any transferee of a limited liability company interest, who is adversely affected by the failure or refusal, may petition a court to direct the amendment or statement of termination. If the court finds that the amendment or statement of termination is proper and that any person so designated has failed or refused to execute the amendment or statement of termination, it shall order the Secretary of State to record an appropriate amendment or statement of termination.