This form addresses important considerations that may effect the legal rights and obligations of the parties with the formation of a professional limited liability company. This questionnaire enables those seeking legal help to effectively identify and prepare their issues and problems. Thorough advance preparation enhances the attorney's case evaluation and can significantly reduce costs associated with case preparation.
This questionnaire may also be used by an attorney as an important information gathering and issue identification tool when forming an attorney-client relationship with a new client. This form helps ensure thorough case preparation and effective evaluation of a new client's needs. It may be used by an attorney or new client to save on attorney fees related to initial interviews.
Illinois Professional Limited Liability Company - PLLC - Formation Questionnaire
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FAQ
It is the intent of the General Assembly to provide for an individual or group of individuals to form a professional limited liability company to render the same professional service or related professional services to the public for which such individuals or individuals providing the professional services are required ...
Illinois is unique in that it requires all PLLCs to not only register with the Secretary of State's office, but also with the Illinois Department of Financial and Professional Regulation (IDFPR). You'll have to submit your application online through the IDFPR Online Services Portal.
The bill also permitted LLCs to convert to PLLCs and avoid new filing fees. To convert your Illinois LLC to a PLLC, you'll need to file Articles of Amendment with the Illinois Secretary of State.
Cost to Form a PLLC The filing fee for the Articles of Organization is $150. The fee for expedited processing is an additional $100.
Illinois allows professionals to form both PLLCs and PSCs, and both PLLCs and PSCs provide liability protection for, respectively, their members or shareholders.
Name reservations may be renewed by repeating this process. Filing of Form LLC-1.15 is not required and does not establish an LLC. The $25 fee cannot be applied to the fee required to file the Articles of Organization. Each LLC must have an address for a principal place of business, which may or may not be in Illinois.
There is no Illinois state law requiring an LLC to adopt an operating agreement. However, an operating agreement will help your LLC resolve disputes, open a bank account, and protect your limited liability status.
