Illinois Compiled Statutes 805 Business Organizations: Article 12 - Dissolution And Remedies

• Illinois Business Corporation Act of 1983. - 805 ILCS 5, Section 12.05
  Voluntary dissolution by incorporators or by initial directors. Dissolution of a corporation may be authorized either by a majority of incorporators if initial directors...
• Illinois Business Corporation Act of 1983. - 805 ILCS 5, Section 12.10
  Voluntary dissolution by written consent of all shareholders. Dissolution of a corporation may be authorized by the unanimous consent in writing of the holders...
• Illinois Business Corporation Act of 1983. - 805 ILCS 5, Section 12.15
  Voluntary dissolution by vote of shareholders. Dissolution of a corporation may be authorized by a vote of shareholders, in the following manner: (a) Either:...
• Illinois Business Corporation Act of 1983. - 805 ILCS 5, Section 12.20
  Articles of dissolution. (a) When a voluntary dissolution has been authorized as provided by this Act, articles of dissolution shall be executed and filed...
• Illinois Business Corporation Act of 1983. - 805 ILCS 5, Section 12.25
  Revocation of Dissolution. (a) A corporation may revoke its dissolution within 60 days of the effective date of dissolution if the corporation has not...
• Illinois Business Corporation Act of 1983. - 805 ILCS 5, Section 12.30
  Effect of dissolution. (a) Dissolution of a corporation terminates its corporate existence and a dissolved corporation shall not thereafter carry on any business except...
• Illinois Business Corporation Act of 1983. - 805 ILCS 5, Section 12.35
  Grounds for administrative dissolution. The Secretary of State may dissolve any corporation administratively if: (a) It has failed to file its annual report or...
• Illinois Business Corporation Act of 1983. - 805 ILCS 5, Section 12.40
  Procedure for administrative dissolution. (a) After the Secretary of State determines that one or more grounds exist under Section 12.35 for the administrative dissolution of...
• Illinois Business Corporation Act of 1983. - 805 ILCS 5, Section 12.43
  Administrative dissolution; corporate name. The Secretary of State shall not allow another corporation to use the name of a domestic corporation that has been administratively...
• Illinois Business Corporation Act of 1983. - 805 ILCS 5, Section 12.45
  Reinstatement following administrative dissolution. (a) A domestic corporation administratively dissolved under Section 12.40 may be reinstated by the Secretary of State following the date of...
• Illinois Business Corporation Act of 1983. - 805 ILCS 5, Section 12.50
  Grounds for judicial dissolution in actions by nonshareholders. (a) A Circuit Court may dissolve a corporation: (1) In an action by the Attorney General, if...
• Illinois Business Corporation Act of 1983. - 805 ILCS 5, Section 12.55
  Shareholder remedies: public corporations. (a) In an action by a shareholder of a corporation that has shares listed on a national securities exchange or...
• Illinois Business Corporation Act of 1983. - 805 ILCS 5, Section 12.56
  Shareholder remedies: non-public corporations. (a) In an action by a shareholder in a corporation that has no shares listed on a national securities exchange or...
• Illinois Business Corporation Act of 1983. - 805 ILCS 5, Section 12.60
  Practice in actions under Section 12.50, 12.55, and 12.56. (a) The practice in actions under Sections 12.50, 12.55, and 12.56 shall be the same...
• Illinois Business Corporation Act of 1983. - 805 ILCS 5, Section 12.65
  Order of dissolution. (a) If, after a hearing, the court orders dissolution pursuant to Section 12.50, 12.55, or 12.56, it shall enter an order dissolving...
• Illinois Business Corporation Act of 1983. - 805 ILCS 5, Section 12.70
  Deposit of amount due certain shareholders. Upon the distribution of the assets of a corporation among its shareholders, the distributive portion to which a...
• Illinois Business Corporation Act of 1983. - 805 ILCS 5, Section 12.75
  Known claims against dissolved corporation. (a) A dissolved corporation may bar any known claim against it, its directors, officers, employees or agents, or its...
• Illinois Business Corporation Act of 1983. - 805 ILCS 5, Section 12.80
  Survival of remedy after dissolution. The dissolution of a corporation either (1) by filing articles of dissolution in accordance with Section 12.20 of this Act,...
• Illinois Business Corporation Act of 1983. - 805 ILCS 5, Section 12.85
  Criminal prosecution of dissolved corporation. The dissolution of a corporation either (1) by the issuance of a certificate of dissolution by the Secretary of...

Last modified: February 18, 2015