Illinois: Legislation Amends Business Entity Statutes

 

Effective January 1, 2018, House Bill 2713, amends the Uniform Partnership Act, the Business Corporation Act of 1983, and the Limited Liability Company Act. The new legislation:

  • Establishes fees for certain expedited services;
  • Prohibits a limited liability company from using the name of a domestic corporation that has been administratively dissolved until three (3) years have elapsed following the date of issuance of the certificate of dissolution;
  • Modifies corporation annual report requirements for corporations that have established an extended filing month.

To read more about the bill, click here.