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(805 ILCS 180/1-20)
Sec. 1-20.
Assumed name.
(a) A limited liability company or a foreign limited
liability company admitted to transact business or making
application for admission to transact business in Illinois
may elect to adopt an assumed name that complies with the
requirements of Section 1-10 of this Act except (a)(1).
(a-5) As used in this Act, "assumed name" means any name other than the
true
limited liability company name, except that the following do not constitute the
use of an assumed name under this Act:
(1) A limited liability company's identification of |
| its business with a trademark or service mark of which the company is the owner or licensed user.
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(2) The use of a name of a division, not containing
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| the word "limited", "liability", or "company" or an abbreviation of one of those words, provided that the limited liability company also clearly discloses its true name.
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(b) Before transacting any business in Illinois under
an assumed limited liability company name or names, the
limited liability company shall, for each assumed name,
execute and file in duplicate an application setting forth all of the
following:
(1) The true limited liability company name.
(2) The state or country under the laws of which it
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(3) That it intends to transact business under an
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| assumed limited liability company name.
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(4) The assumed name that it proposes to use.
(c) The right to use an assumed name shall be effective
from the date of filing by the Secretary of State until the
first day of the anniversary month of the limited liability
company that falls within the next calendar year evenly
divisible by 5. However, if an application is filed within
the 2 months immediately preceding the anniversary month of a
limited liability company that falls within a calendar year
evenly divisible by 5, the right to use the assumed name
shall be effective until the first day of the anniversary
month of the limited liability company that falls within the
next succeeding calendar year evenly divisible by 5.
(d) A limited liability company shall renew the right
to use its assumed name or names, if any, within the 60 days
preceding the expiration of the right, for a period of 5
years, by making an election to do so at the time of filing
its annual report form and by paying the renewal fee as
prescribed by this Act.
(e) A limited liability company or foreign limited
liability company may change or cancel any or all of its
assumed names by executing and filing an application setting
forth all of the following:
(1) The true limited liability company name.
(2) The state or country under the laws of which it
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(3) That it intends to cease transacting business
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| under an assumed name by changing or cancelling it.
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(4) The assumed name to be changed or cancelled.
(5) If the assumed name is to be changed, the assumed
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| name that the limited liability company proposes to use.
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(f) Upon the filing of an application to change an
assumed name, the limited liability company shall have the
right to use the assumed name for the balance of the period
authorized.
(g) The right to use an assumed name shall be cancelled
by the Secretary of State if any of the following occurs:
(1) The limited liability company fails to renew an
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(2) The limited liability company has filed an
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| application to change or cancel the assumed name.
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(3) A limited liability company has been
dissolved.
(4) A foreign limited liability company has had its
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| admission to do business in Illinois revoked.
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(h) Any limited liability company or foreign limited
liability company failing to pay the prescribed fee for
assumed name renewal when due and payable shall be given
notice of nonpayment by the Secretary of State by
regular mail. If the fee, together with a late fee of
$100, is not paid within 60 days after the notice is mailed,
the right to use the assumed name shall cease.
Any limited liability company or foreign limited
liability company that (i) puts forth any sign or advertisement
assuming any name other than that under which it is organized
or otherwise authorized by law to act or (ii) violates Section 1-27 is
guilty of a
petty offense and shall be fined not less than $501 and not
more than
$1,000. A limited liability company or foreign limited liability company
shall be deemed guilty of an
additional offense for each day it shall continue to so
offend.
Each limited liability company or foreign limited
liability company that fails or refuses (1) to answer
truthfully and fully within the time prescribed by this Act
interrogatories propounded by the Secretary of State in
accordance with this Act or (2) to perform any other act
required by this Act to be performed by the limited liability
company or foreign limited liability company is guilty of a
petty offense and shall be fined not less than $501 and not
more than $1,000.
(i) A foreign limited liability company may not use an assumed or fictitious
name in the conduct of its business to intentionally misrepresent the
geographic origin or location of the company.
(Source: P.A. 93-59, eff. 7-1-03.)
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