(805 ILCS 5/12.35) (from Ch. 32, par. 12.35)
Sec. 12.35.
Grounds for administrative dissolution.
The Secretary
of State may dissolve any corporation administratively if:
(a) It has failed to file its annual report or final transition annual
report and pay its franchise tax as required by this Act before the first
day of the anniversary month or, in the case of a corporation which has
established an extended filing month, the extended filing month of the
corporation of the year in which such annual report becomes due and such
franchise tax becomes payable;
(b) it has failed to file in the office of the Secretary of State any
report after the expiration of the period prescribed in this Act for filing
such report;
(c) it has failed to pay any fees, franchise taxes, or charges prescribed
by this Act;
(d) it has misrepresented any material matter in any application,
report, affidavit, or other document filed by the corporation pursuant to this
Act;
(e) it has failed to appoint and maintain a registered agent in
this State;
(f) it has tendered payment to the Secretary of State which is returned
due to
insufficient funds, a closed account, or for any other reason, and acceptable
payment has
not been subsequently tendered;
(g) upon the failure of an officer or director to whom interrogatories have
been
propounded by the Secretary of State as provided in this Act, to answer the
same fully
and to file such answer in the office of the Secretary of State; or
(h) if the answer to such interrogatories discloses, or if the fact is
otherwise
ascertained, that the proportion of the sum of the paid-in capital of such
corporation
represented in this State is greater than the amount on which such corporation
has
theretofore paid fees and franchise taxes, and the deficiency therein is not
paid.
(Source: P.A. 92-33, eff. 7-1-01; 93-59, eff. 7-1-03.)
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