Illinois General Assembly - Illinois Compiled Statutes

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805 ILCS 5/10.35

(805 ILCS 5/10.35) (from Ch. 32, par. 10.35)

Sec. 10.35.

Effect of amendment.

(a) The amendment shall
become effective and the articles of incorporation shall be deemed to be
amended accordingly, as of the later of:

(1) the filing of the articles of amendment by the

Secretary of State; or

(2) the time established under the articles of

amendment, not to exceed 30 days after the filing of the articles of amendment by the Secretary of State.

(b) If the amendment is made in accordance with the provisions of
Section 10.40,
upon the filing of the articles of
amendment by the Secretary of State,
the amendment shall become effective and the articles of incorporation shall
be deemed to be amended accordingly, without any action thereon by the
directors
or shareholders of the corporation and with the same effect as if the
amendments
had been adopted by unanimous action of the directors and shareholders of
the corporation.

(c) If the amendment restates the articles of incorporation, such
restated
articles of incorporation shall, upon such amendment becoming effective,
supersede and stand in lieu of the corporation's preexisting articles of
incorporation.

(d) If the amendment revives the articles of incorporation and extends
the
period of corporate duration, upon the filing of the articles of amendment
by the Secretary of State, the amendment shall become effective and the
corporate existence shall be deemed to have continued without interruption
from the date of expiration of the original period of duration, and the
corporation shall stand revived with such powers, duties and obligations
as if its period of duration had not expired; and all acts and proceedings
of its officers, directors and shareholders, acting or purporting to act
as such, which would have been legal and valid but for such expiration,
shall stand ratified and confirmed.

(e) Each amendment which affects the number of issued shares or the
amount of paid-in capital
shall be deemed to be a report under the provisions of
this Act.

(f) No amendment of the articles of incorporation of a corporation shall
affect
any existing cause of action in favor of or
against such corporation, or any pending suit in which such corporation
shall be a party, or the existing rights of persons other than
shareholders; and, in the event the corporate name shall be changed by
amendment, no suit brought by or against such corporation under its former
name shall be abated for that reason.

(Source: P.A. 92-33, eff. 7-1-01; 93-59, eff. 7-1-03.)