Illinois General Assembly - Illinois Compiled Statutes

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805 ILCS 5/14.25

(805 ILCS 5/14.25) (from Ch. 32, par. 14.25)

Sec. 14.25.

Report following merger or cancellation of shares/reduction
in paid-in capital.

(a) Each domestic corporation and each foreign corporation authorized
to transact business in this State that is a party to a statutory merger
and is the surviving corporation, or that effects the cancellation of
its shares, or that effects a reduction in its paid-in capital in
connection with the cancellation of its shares, as permitted by this Act,
and does not report that event to the Secretary of State by any other
report required by this Act to be filed; and each domestic corporation
that is the new corporation in a consolidation, shall execute and file, in
accordance with Section 1.10 of this Act, a report setting forth:

(1) The name of the corporation and the state or

country under the laws of which it is organized.

(2) A statement of the event.

(3) A statement of the aggregate number of issued

shares of the corporation as last reported to the Secretary of State in any document required to be filed by this Act, other than an annual report, itemized by classes and series, if any, within a class.

(4) A statement of the aggregate number of issued

shares of the corporation after giving effect to the change, itemized by classes, and series, if any, within a class.

(5) A statement, expressed in dollars, of the amount

of paid-in capital of the corporation as last reported to the Secretary of State in any document required to be filed by this Act, other than an annual report, interim annual report or final transition annual report.

(6) A statement, expressed in dollars, of the amount

of paid-in capital of the corporation after giving effect to the change.

(7) In case of a statutory merger, an estimate,

expressed in dollars, of the value of all property to be owned by it for the following year, wherever located, and an estimate of the value of the property to be located within this State during that year, and an estimate, expressed in dollars, of the gross amount of business which will be transacted by it during that year and an estimate of the gross amount thereof which will be transacted by it at or from places of business in this State during that year.

(b) In the case of a statutory merger, consolidation, cancellation of
shares, or reduction in paid-in capital that occurs either prior to January
1, 1991 or on or prior to the last day of the third month immediately
preceding the corporation's anniversary month in 1991, the report shall be
filed within 60 days after that event. In the case of a cancellation of
shares or reduction in paid-in capital that occurs after both December 31,
1990 and the last day of the third month immediately preceding the
corporation's anniversary month in 1991, the  event shall be reported under
Section 14.30 at the time required by that Section and not under this
Section In the case of a statutory merger or consolidation that occurs
after both December 31, 1990 and the last day of the third month
immediately preceding the corporation's anniversary month in 1991, the
event shall be reported under Section 14.35 at the time required by that
Section and not under this Section.

(c) The report shall be made on forms prescribed and furnished by the
Secretary of State.

(d) Until the report shall have been filed in the office of the
Secretary of State, the basis of the annual franchise tax payable by the
corporation shall not be reduced; provided, however, in no event shall the
annual franchise tax for any taxable year be reduced if the report is not
filed prior to the first day of the anniversary month
or the extended filing month of the corporation of that
taxable year and before payment of its annual franchise tax.

(Source: P.A. 86-985; 86-1217.)