96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
HB3780

 

Introduced 2/25/2009, by Rep. Sandy Cole

 

SYNOPSIS AS INTRODUCED:
 
805 ILCS 180/50-15

    Amends the Limited Liability Company Act. Provides that a late penalty of $25 a month (rather than $300 plus $100 for each year or fraction thereof beginning with the second year of the delinquency) will be imposed on any limited liability company or foreign limited liability company that (1) failed to file its annual report and pay all requisite fees required under the Act or (2) failed to appoint and maintain a registered agent within 60 days of notification of the Secretary of State by the resigning registered agent.


LRB096 08948 KTG 19086 b

 

 

A BILL FOR

 

HB3780 LRB096 08948 KTG 19086 b

1     AN ACT concerning business.
 
2     Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
 
4     Section 5. The Limited Liability Company Act is amended by
5 changing Section 50-15 as follows:
 
6     (805 ILCS 180/50-15)
7     Sec. 50-15. Penalty.
8     (a) The Secretary of State shall declare any limited
9 liability company or foreign limited liability company to be
10 delinquent and not in good standing if any of the following
11 occur:
12         (1) It has failed to file its annual report and pay the
13     requisite fee as required by this Act before the first day
14     of the anniversary month in the year in which it is due.
15         (2) It has failed to appoint and maintain a registered
16     agent in Illinois within 60 days of notification of the
17     Secretary of State by the resigning registered agent.
18         (3) (Blank).
19     (b) If the limited liability company or foreign limited
20 liability company has not corrected the default within the time
21 periods prescribed by this Act, the Secretary of State shall be
22 empowered to invoke any of the following penalties:
23         (1) For failure or refusal to comply with subsection

 

 

HB3780 - 2 - LRB096 08948 KTG 19086 b

1     (a) of this Section within 60 days after the due date, a
2     penalty of $25 a month $300 plus $100 for each year or
3     fraction thereof beginning with the second year of
4     delinquency until returned to good standing or until
5     reinstatement is effected.
6         (2) The Secretary of State shall not file any
7     additional documents, amendments, reports, or other papers
8     relating to any limited liability company or foreign
9     limited liability company organized under or subject to the
10     provisions of this Act until any delinquency under
11     subsection (a) is satisfied.
12         (3) In response to inquiries received in the Office of
13     the Secretary of State from any party regarding a limited
14     liability company that is delinquent, the Secretary of
15     State may show the limited liability company as not in good
16     standing.
17 (Source: P.A. 93-32, eff. 12-1-03; 94-605, eff. 1-1-06.)