(805 ILCS 5/12.25) (from Ch. 32, par. 12.25)
Sec. 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 begun to distribute its assets or has not commenced a proceeding
for court-supervision of its winding up under Section 12.50.
(b) The corporation's board of directors, or its incorporators if shares
have not been issued and the initial directors have not been designated,
may revoke the dissolution without shareholder action.
(c) Within 60 days after the dissolution has been revoked
by the corporation, articles of revocation of dissolution
shall be executed and filed in duplicate in accordance with Section 1.10
of this Act and shall set forth:
(1) The name of the corporation.
(2) The effective date of the dissolution that was revoked.
(3) A statement that the corporation has not begun to distribute its assets nor has it | ||
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(4) The date the revocation of dissolution was authorized.
(5) A statement that the corporation's board of directors (or incorporators) revoked the | ||
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(d) When the provisions of this Section have been complied with, the
Secretary of State shall file the articles of
revocation of dissolution.
Failure to file the revocation of dissolution as required in subsection
(c) hereof shall not be grounds for the Secretary of State to reject the
filing, but the corporation filing beyond the time period shall pay a
penalty as prescribed by this Act.
(e) The revocation of dissolution is effective on the date of filing thereof
by the Secretary of State and shall relate back
and take effect as of the date of
dissolution
and the corporation may resume carrying on business as if dissolution had
never occurred.
(Source: P.A. 92-33, eff. 7-1-01.)
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