SB1435 Engrossed

LRB095 10506 LCT 30721 b






1
    AN ACT concerning business.

 
2
    Be it enacted by the People of the State of Illinois,
 
3
represented in the General Assembly:


 
4
    Section 5. The Business Corporation Act of 1983 is amended  
5
by adding Section 12.43 as follows:
 
6
    (805 ILCS 5/12.43  new)
7
    Sec. 12.43. Administrative dissolution; corporate name. 
8
The Secretary of State shall not allow another corporation to 
9
use the name of a domestic corporation that has been 
10
administratively dissolved until 3 years have elapsed 
11
following the date of issuance of the
certificate of 
12
dissolution. If the domestic corporation that has been 
13
administratively dissolved is reinstated within 3 years after 
14
the date of issuance of the
certificate of dissolution, the 
15
domestic corporation shall continue under its previous name 
16
without impacting its continuous legal status, unless the 
17
corporation petitions to change its name upon reinstatement.
 
18
    Section 10. The General Not For Profit Corporation Act of 
19
1986 is amended by adding Section 112.43 as follows:
 
20
    (805 ILCS 105/112.43  new)
21
    Sec. 112.43. Administrative dissolution; corporate name. 
 


 






SB1435 Engrossed
- 2 -
LRB095 10506 LCT 30721 b




1
The Secretary of State shall not allow another corporation to 
2
use the name of a domestic corporation that has been 
3
administratively dissolved until 3 years have elapsed 
4
following the date of issuance of the
certificate of 
5
dissolution.  If the domestic corporation that has been 
6
administratively dissolved is reinstated within 3 years after 
7
the date of issuance of the
certificate of dissolution, the 
8
domestic corporation shall continue under its previous name 
9
without impacting its continuous legal status, unless the 
10
corporation petitions to change its name upon reinstatement.
 

11
    Section 99. Effective date. This Act takes effect upon 
12
becoming law.