96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
HB3780


 
Introduced 2/25/2009, by Rep. Sandy Cole
 
SYNOPSIS AS INTRODUCED:
 		














805 ILCS 180/50-15









    Amends the Limited Liability Company Act. Provides that a late penalty of $25 a month (rather than $300 plus $100 for each year or fraction thereof beginning with the second year of the delinquency) will be imposed on any limited liability company or foreign limited liability company that (1) failed to file its annual report and pay all requisite fees required under the Act or (2) failed to appoint and maintain a registered agent within 60 days of notification of the Secretary of State by the resigning registered agent. 
















LRB096 08948 KTG 19086 b

















 


 


A BILL FOR









 











HB3780

LRB096 08948 KTG 19086 b






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    AN ACT concerning business.

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


 
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    Section 5. The Limited Liability Company Act is amended  by 
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changing Section 50-15 as follows:
 



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    (805 ILCS 180/50-15)


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    Sec. 50-15. Penalty. 

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    (a) The Secretary of State shall declare any limited

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liability company or foreign limited liability company to be

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delinquent and not in good standing if any of the following

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occur:


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        (1) It has failed to file its annual report and
pay the 
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    requisite fee as required by this Act before the
first day 
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    of the anniversary month in the year in which
it is due.


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        (2) It has failed to appoint and maintain a
registered 
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    agent in Illinois within 60 days of
notification of the 
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    Secretary of State by the resigning
registered agent.


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        (3) (Blank).

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    (b) If the limited liability company or foreign limited

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liability company has not corrected the default within the
time 
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periods prescribed by this Act, the Secretary of State
shall be 
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empowered to invoke any of the following penalties:


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        (1) For failure or refusal to comply with
subsection 
 


 






HB3780
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LRB096 08948 KTG 19086 b




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    (a) of this Section within 60 days after the
due date, a 
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    penalty of $25 a month $300 plus $100 for each year or 
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    fraction thereof beginning with the second year of 
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    delinquency until returned to good standing or until 
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    reinstatement is effected.


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        (2) The Secretary of State shall not file any

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    additional documents, amendments, reports, or other
papers 
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    relating to any limited liability company or
foreign 
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    limited liability company organized under or
subject to the 
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    provisions of this Act until any
delinquency under 
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    subsection (a) is satisfied.


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        (3) In response to inquiries received in the
Office of 
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    the Secretary of State from any party
regarding a limited 
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    liability company that is
delinquent, the Secretary of 
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    State may show the limited
liability company as not in good 
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    standing.

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(Source: P.A. 93-32, eff. 12-1-03; 94-605, eff. 1-1-06.)