§ 61 — Grounds for administrative dissolution

Illinois § 61

• Jurisdiction: Illinois
• Topic: BUSINESS AND EMPLOYMENT
• Ch. 805: BUSINESS ORGANIZATIONS
• Act 805 ILCS 317/: Limited Worker Cooperative Association Act.

Text

The Secretary of State may dissolve any limited worker cooperative association 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 required fees, penalties, or charges; (2) it has failed to file in the Office of the Secretary of State any report after the expiration of the period prescribed for filing the report; (3) it has misrepresented any material matter in any application, report, affidavit, or other document submitted by the limited worker cooperative association; (4) it has failed to appoint and maintain a registered agent in Illinois; (5) a director or member to whom interrogatories have been propounded by the Secretary of State as provided in Section 5-60 of the Limited Liability Company Act fails to answer the interrogatories fully and to timely file the answer in the Office of the Secretary of State; or (6) 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. 102-351, eff. 8-13-21.)