(805 ILCS 105/112.40) (from Ch. 32, par. 112.40)
Sec. 112.40. Procedure for administrative dissolution.
(a) After the Secretary of State determines that one or
more grounds exist under Section 112.35 of this Act for the
administrative dissolution of a corporation, he or she shall
send by regular mail to each delinquent corporation a Notice
of Delinquency to its registered office, or, if the
corporation has failed to maintain a registered office, then
to the president or other principal officer at the last
known office of said officer. Failure to receive such notice shall not relieve the corporation of its obligation to pay the filing fee and any penalties due or invalidate the validity thereof.
(b) If the corporation does not correct the default within
90 days following such notice, the Secretary of State shall
thereupon dissolve the corporation by issuing a certificate
of dissolution that recites the ground or grounds for
dissolution and its effective date. The Secretary of State
shall file the original of the certificate in his or her
office and mail one copy to the corporation at its
registered
office
or, if the corporation has failed to maintain a registered office, then to
the president or
other principal officer at the last known office of said officer.
(c) The administrative dissolution of a corporation
terminates its corporate existence and such a dissolved
corporation shall not thereafter carry on any affairs,
provided however, that such a dissolved corporation may take
all action authorized under Section 112.75 of this Act or as otherwise
necessary or appropriate to wind up and liquidate its affairs under Section
112.30 of this Act.
(Source: P.A. 98-776, eff. 1-1-15; 99-608, eff. 7-22-16.)
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