| |

Libraries

Business
Organizations
-
Corporations
-
Nonprofit Corporations
-
Limited Liability Co's
-
Partnerships
-
Associations
-
Names & Records
Business
Transactions
Commercial
Code
Employment
Law Bulletins


To learn more about Hennessy & Roach services,
reach us at:
Chicago: 312-346-5310
Fax: 312-346-5330
St. Louis: 314-231-0770
Fax: 314-231-0990
Springfield: 217-726-0037
Fax: 217-726-0137
______________________
140 S Dearborn
St., Suite 520
Chicago, IL 60603
|
|
.
CHAPTER 805 BUSINESS ORGANIZATIONS
20 - Dissolution of Corporations Act
.
|
|
(805 ILCS 20/0.01) (from
Ch. 32, par. 189h)
Sec. 0.01. Short title. This Act may be cited as the Dissolution of Corporations Act.
(Source: P.A. 86-1324.)
|
(805 ILCS 20/1) (from
Ch. 32, par. 190)
Sec. 1. That whenever the board of directors,
managers, trustees or officers of any corporation
existing by virtue of any general or special law
of this state, or any corporation hereafter organized
by virtue of any law of this state, has ceased to
do business as a corporation, or has discontinued
the exercise of corporate functions, such corporation
shall be deemed to have abandoned its corporate franchises
and it shall be lawful for the Attorney General to
institute proceedings, either in the Circuit Court
of Sangamon County or in the Circuit Court of such
other county in this state as to him may seem best
for the dissolution of such corporation.
(Source: Laws 1895, p. 130.)
|
(805 ILCS 20/2) (from
Ch. 32. par. 191)
Sec. 2. Such proceedings shall be commenced
by filing in such court a complaint stating the name
and date of the organization of such corporation,
the location of its principal office and the names
of its directors, managers, trustees or officers,
if known; that it has ceased to do business as a
corporation, and has discontinued the exercise of
corporate functions, and praying for its dissolution.
(Source: P.A. 79-1365.)
|
(805 ILCS 20/3) (from
Ch. 32, par. 192)
Sec. 3. In proceedings under this Act, summons
shall issue and be served as in other civil actions,
except that service shall be had in the county in
which the principal office of such corporation is
by its charter located. If process is returned not
found, the Attorney General shall cause publication
to be made as in other civil actions in a newspaper
of general circulation published in the county where
the principal office of such corporation is located.
The publication shall contain a notice of the pendency
of such action, the title of the court, the title
of the case, and the date on or after which default
may be entered. The Attorney General may include
in one notice the names of any number of corporations
against which actions are then pending in the same
court. The Attorney General shall cause a copy of
such notice to be mailed to the corporation at its
registered office within 10 days after the first
publication thereof. The certificate of the Attorney
General of the mailing of such notice shall be prima
facie evidence thereof. Such notice shall be published
at least once each week for two consecutive weeks
and the first publication thereof may begin at any
time after summons has been returned. Unless a corporation
shall have been served with summons, no default shall
be taken against it earlier than 30 days after the
first publication of such notice.
(Source: P.A. 86-1328.)
|
(805 ILCS 20/4) (from
Ch. 32, par. 193)
Sec. 4. It shall not be necessary for the
Attorney-General to file an affidavit showing
such officer or agent of such corporation resides
or has gone out of the State, or on due inquiry cannot
be found, or is concealed so that process cannot
be served upon them, or that upon diligent inquiry
the places of residence of such officers or agents
cannot be ascertained.
(Source: Laws 1935, p. 616.)
|
(805 ILCS 20/5) (from
Ch. 32, par. 194)
Sec. 5. The practice in proceedings under
this Act shall be the same as in other civil cases.
(Source: Laws 1935, p. 616.)
|
(805 ILCS 20/6) (from
Ch. 32, par. 195)
Sec. 6. Suits and proceedings instituted
under the provisions of this act shall be placed
upon a separate docket by themselves, and stand for
trial upon the call of such docket at such times
as the judge thereof may order.
(Source: Laws 1933, p. 390.)
|
(805 ILCS 20/7) (from
Ch. 32, par. 196)
Sec. 7. Upon the hearing of the complaint
the court may order a dissolution of such corporation,
and upon notice by the Attorney General in writing
of such order being filed with the Secretary of State
and entered upon the records of his office, the dissolution
of such corporation shall be complete.
(Source: P.A. 79-1365.)
|
(805 ILCS 20/8) (from
Ch. 32, par. 197)
Sec. 8. The costs of the court and of publication
in proceedings under this act shall be paid out of
any moneys in the treasury not otherwise appropriated
upon certified fee bills approved by the Attorney
General.
(Source: Laws 1895, p. 130.)
|
|
To learn more about Hennessy & Roach services, please call 312.346.5310,
or send an e-mail to
hennroach@hennessyroach.com to
arrange a consultation.
Web Site Disclaimer: All
information offered herein by the Law offices of Hennessy & Roach,
P.C.
is not legal advice nor the formation of an attorney client relationship.
You agree to hold harmless the law offices of Hennessy & Roach,
P.C., its employees and all parties associated with Hennessy & Roach.
If you disagree, immediately discontinue use of this site.
General Disclaimer: This site contains
provisions of the Illinois Compiled Statutes from databases that
were created for the use of the members and staff of the Illinois
General Assembly. The provisions have NOT been edited for publication,
and are NOT in any sense the "official" text of the Illinois
Compiled Statutes as enacted into law. The accuracy of any specific
provision originating from this site cannot be assured, and you are
urged to consult the official documents or contact legal counsel
of your choice. This site should not be cited as an official or authoritative
source. Court decisions may affect the interpretation and constitutionality
of statutes.
Home | The
Firm | Attorneys | Practice
Areas | Clients | References | Hearing
Sites | Contact Us | Disclaimer
|