Synopsis As Introduced Amends the Uniform Partnership Act (1997). Establishes fees for certain expedited services and provides that the fees collected for those services shall be deposited into the Division of Corporations Registered Limited Liability Partnership Fund (the Fund) to the credit of an account within the Fund. Specifies uses for the moneys in the account. Provides that the balance in the Fund at the end of any fiscal year shall not exceed $600,000 and any amount in excess of $600,000 shall be transferred to the General Revenue Fund, and deletes existing language regarding transfers from the Fund to the General Revenue Fund. Amends the Business Corporation Act of 1983. Prohibits a limited liability company from using the name of a domestic corporation that has been administratively dissolved until 3 years have elapsed following the date of issuance of the certificate of dissolution. In a provision requiring corporations to submit an annual report to the Secretary of State concerning the aggregate number of shares the corporation has authority to issue, provides that, in the case of a corporation which has established an extended filing month, the information shall be given in a specified manner. Repeals a Section of the Limited Liability Company Act providing that a limited liability company that provides or intends to provide professional services requiring individuals engaged in the profession to be licensed by the Department of Financial and Professional Regulation shall not open, operate, or maintain an establishment for a purpose for which a limited liability company may be organized under the Act without obtaining a certificate of registration under the Professional Limited Liability Company Act. Effective July 1, 2017, except certain provisions take effect immediately.
House Committee Amendment No. 1 Removes from the list of services included in the definition of "expedited services" requests for certificates of existence or abstracts of computer record made by mail or fax to the Chicago Office of the Secretary of State's Department of Business Services.
Senate Committee Amendment No. 1 Replaces everything after the enacting clause. Reinserts the provisions of the engrossed bill with the following changes: Restores existing language under the Uniform Partnership Act (1997) that provides that on or before August 31 of each year, the balance in the Division of Corporations Registered Limited Liability Partnership Fund in excess of $600,000 (rather than $200,000) shall be transferred to the General Revenue Fund. Changes the effective date from July 1, 2017 to January 1, 2018, except certain provisions take effect immediately.
Removes a provision repealing a Section of the Limited Liability Company Act concerning certificate of registration requirements for limited liability companies that provide or intend to provide professional services that require the individuals engaged in the profession to be licensed by the Department of Financial and Professional Regulation. Provides a January 1, 2018 effective date.