Illinois Compiled Statutes 805 Business Organizations: Article 35 - Dissolution And Dissociation

• Illinois Limited Liability Company Act. - 805 ILCS 180, Section 35-1
  Events causing dissolution and winding up of company's business. A limited liability company is dissolved, and, unless continued pursuant to subsection (b) of Section...
• Illinois Limited Liability Company Act. - 805 ILCS 180, Section 35-3
  Limited liability company continues after dissolution. (a) Subject to subsections (b) and (c) of this Section, a limited liability company continues after dissolution only for...
• Illinois Limited Liability Company Act. - 805 ILCS 180, Section 35-4
  Right to wind up limited liability company's business. (a) After dissolution, a member who has not wrongfully dissociated may participate in winding up a...
• Illinois Limited Liability Company Act. - 805 ILCS 180, Section 35-5
  (Repealed). (Source: P.A. 87-1062. Repealed by P.A. 90-424, eff. 1-1-98.)
• Illinois Limited Liability Company Act. - 805 ILCS 180, Section 35-7
  Member or manager's power and liability as agent after dissolution. (a) A limited liability company is bound by a member or manager's act after...
• Illinois Limited Liability Company Act. - 805 ILCS 180, Section 35-10
  Distribution of assets in winding up limited liability company's business. (a) In winding up a limited liability company's business, the assets of the company...
• Illinois Limited Liability Company Act. - 805 ILCS 180, Section 35-15
  Articles of dissolution. When all debts, liabilities, and obligations of the limited liability company have been paid and discharged or adequate provision has been...
• Illinois Limited Liability Company Act. - 805 ILCS 180, Section 35-20
  Filing of articles of dissolution. (a) Duplicate originals of the articles of dissolution shall be delivered to the Secretary of State. If the Secretary...
• Illinois Limited Liability Company Act. - 805 ILCS 180, Section 35-25
  Grounds for administrative dissolution. The Secretary of State may dissolve any limited liability company administratively if: (1) it has failed to file its annual report...
• Illinois Limited Liability Company Act. - 805 ILCS 180, Section 35-30
  Procedure for administrative dissolution. (a) After the Secretary of State determines that one or more grounds exist under Section 35-25 for the administrative dissolution of...
• Illinois Limited Liability Company Act. - 805 ILCS 180, Section 35-35
  (Repealed). (Source: P.A. 87-1062. Repealed by P.A. 90-424, eff. 1-1-98.)
• Illinois Limited Liability Company Act. - 805 ILCS 180, Section 35-40
  Reinstatement following administrative dissolution. (a) A limited liability company administratively dissolved under Section 35-25 may be reinstated by the Secretary of State following the date...
• Illinois Limited Liability Company Act. - 805 ILCS 180, Section 35-45
  Events causing member's dissociation. A member is dissociated from a limited liability company upon the occurrence of any of the following events: (1) The...
• Illinois Limited Liability Company Act. - 805 ILCS 180, Section 35-50
  Member's power to dissociate; wrongful dissociation. (a) A member of a member-managed company has the power to dissociate from a company at any time,...
• Illinois Limited Liability Company Act. - 805 ILCS 180, Section 35-55
  Effect of member's dissociation. (a) Upon a member's dissociation the company must cause the dissociated member's distributional interest to be purchased under Section 35-60....
• Illinois Limited Liability Company Act. - 805 ILCS 180, Section 35-60
  Company purchase of distributional interest. (a) A limited liability company shall purchase a distributional interest of a member for its fair value determined as...
• Illinois Limited Liability Company Act. - 805 ILCS 180, Section 35-65
  Court action to determine fair value of distributional interest. (a) In an action brought to determine the fair value of a distributional interest in...
• Illinois Limited Liability Company Act. - 805 ILCS 180, Section 35-70
  Dissociated member's power to bind limited liability company. For 2 years after a member dissociates without the dissociation resulting in a dissolution and winding...

Last modified: February 18, 2015