Rep. Jay Hoffman
Filed: 2/28/2018
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| 1 | AMENDMENT TO HOUSE BILL 4578
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| 2 | AMENDMENT NO. ______. Amend House Bill 4578 on page 8, by | ||||||
| 3 | inserting immediately below line 17 the following:
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| 4 | "Section 10. The Limited Liability Company Act is amended | ||||||
| 5 | by changing Section 50-15 as follows:
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| 6 | (805 ILCS 180/50-15)
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| 7 | Sec. 50-15. Penalty.
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| 8 | (a) The Secretary of State shall declare any limited
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| 9 | liability company or foreign limited liability company to be
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| 10 | delinquent and not in good standing if any of the following
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| 11 | occur:
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| 12 | (1) It has failed to file its annual report and
pay the | ||||||
| 13 | requisite fee as required by this Act before the
first day | ||||||
| 14 | of the anniversary month in the year in which
it is due.
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| 15 | (2) It has failed to appoint and maintain a
registered | ||||||
| 16 | agent in Illinois within 60 days of
notification of the | ||||||
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| 1 | Secretary of State by the resigning
registered agent.
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| 2 | (3) (Blank).
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| 3 | (b) If the limited liability company or foreign limited
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| 4 | liability company has not corrected the default within the
time | ||||||
| 5 | periods prescribed by this Act, the Secretary of State
shall be | ||||||
| 6 | empowered to invoke any of the following penalties:
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| 7 | (1) For failure or refusal to comply with
subsection | ||||||
| 8 | (a) of this Section before the first day of the second | ||||||
| 9 | month after the anniversary month within 60 days after the
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| 10 | due date, a penalty of $100 $300 plus $100 for each year or | ||||||
| 11 | fraction thereof beginning with the second year of | ||||||
| 12 | delinquency until returned to good standing or until | ||||||
| 13 | reinstatement is effected.
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| 14 | (2) The Secretary of State shall not file any
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| 15 | additional documents, amendments, reports, or other
papers | ||||||
| 16 | relating to any limited liability company or
foreign | ||||||
| 17 | limited liability company organized under or
subject to the | ||||||
| 18 | provisions of this Act until any
delinquency under | ||||||
| 19 | subsection (a) is satisfied.
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| 20 | (3) In response to inquiries received in the
Office of | ||||||
| 21 | the Secretary of State from any party
regarding a limited | ||||||
| 22 | liability company that is
delinquent, the Secretary of | ||||||
| 23 | State may show the limited
liability company as not in good | ||||||
| 24 | standing.
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| 25 | (Source: P.A. 93-32, eff. 12-1-03; 94-605, eff. 1-1-06.)".
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