Sen. Don Harmon
Filed: 4/3/2014
 
 

 

 

 
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1
AMENDMENT TO SENATE BILL 1098




2    AMENDMENT NO. ______. Amend Senate Bill 1098 by replacing 
3everything after the enacting clause with the following:

 
4    "Section 5. The Business Corporation Act of 1983 is amended  
5by changing Section 12.80 as follows:
 



6    (805 ILCS 5/12.80)  (from Ch. 32, par. 12.80)



7    Sec. 12.80. Survival of remedy after dissolution. The 
8dissolution
of a corporation either (1) by filing articles of 
9dissolution in accordance
with Section 12.20 of this Act, (2) 
10by the issuance of a
certificate of dissolution in accordance 
11with Section 12.40 of this Act, (3) by
a judgment
of 
12dissolution by a circuit court of this State, or (4) by

13expiration of
its period of duration, shall not take away nor 
14impair any civil remedy
available to or against such 
15corporation, its directors, or shareholders,
for any right or 
16claim existing, or any liability accrued or incurred, either 
 
 
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1prior to, at the time of, or after such
dissolution if action 
2or other proceeding thereon is commenced within five
years 
3after the date of such dissolution.  Any such action or 
4proceeding by
or against the corporation may be prosecuted or 
5defended by the corporation
in its corporate name. This 
6provision does not extend any applicable statute of 
7limitations. 

8(Source: P.A. 92-33, eff. 7-1-01.)".