Illinois Sample Letter regarding Notification of Official Notice of Intent to Administratively Dissolve or Revoke Corporation
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How to fill out Sample Letter Regarding Notification Of Official Notice Of Intent To Administratively Dissolve Or Revoke Corporation?
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FAQ
To reinstate an involuntarily dissolved LLC in Illinois, you can apply for reinstatement. To do so, you'll need to submit the following to the Illinois Secretary of State: a completed Application for Reinstatement Following Administrative Dissolution or Revocation (Form LLC-35.40/45.65)
A company may be dissolved involuntarily by the Secretary of State if it fails to pay required fees. Involuntary dissolution may be a shareholder remedy arising out of a lawsuit complaining of deadlock, fraud, management problems, or illegal conduct.
Involuntary Dissolution. Illinois corporations may be dissolved involuntarily by a court order as a result of a lawsuit by creditors, or by the Illinois Secretary of State for failure to file an annual report or pay annual fees. Alternatively, corporations may be dissolved voluntarily by shareholder consent.
When the revocation of dissolution is effective, it relates back to and takes effect as of the effective date of the dissolution and the corporation resumes carrying on its business as if dissolution had never occurred.
Involuntary Dissolution is the result of an administrative action taken by the filing office or tax administrator in a state. The company is generally notified of the impending dissolution and after a specified period of time is marked inactive on the filing offices records.
Administrative dissolution is the taking away of the rights, powers, and authority of a domestic corporation, LLC, or other statutory business entity by the state administrator overseeing business entities, due to the entity's failure to comply with certain obligations of the business entity statute.
To reinstate an involuntarily dissolved LLC in Illinois, you can apply for reinstatement. To do so, you'll need to submit the following to the Illinois Secretary of State: a completed Application for Reinstatement Following Administrative Dissolution or Revocation (Form LLC-35.40/45.65)
Dissolution of a corporation refers to the official closing of a corporate entity, which can be a complex process. Below is a brief introduction of the types of dissolution with the state. There are 3 main ways a company can be dissolved ? administratively, voluntarily, and judicially.
