(805 ILCS 105/112.75) (from Ch. 32, par. 112.75)
Sec. 112.75.
Known claims against dissolved corporation.
(a) A dissolved corporation may bar any known claim against
it, its directors, officers, employees or agents, or its
members, by following the procedures set forth in
subsections (b) and (c) of this Section. A claimant that
does not deliver its claim by the deadline established
pursuant to subsection (b) or that does not file suit by the
deadline established pursuant to subsection (c) shall have
no further rights against the dissolved corporation, its
directors, officers, employees or agents, or its members.
(b) Within 60 days from the effective date of dissolution,
the dissolved corporation shall send a notification to the
claimant setting forth the following information:
(1) The corporation has been dissolved and the
effective date thereof;
(2) The mailing address to which the claimant must
send its claim and the essential information to be submitted
with the claim;
(3) The deadline, not less than 120 days from the
effective date of dissolution, by which the dissolved
corporation must receive the claim; and
(4) A statement that the claim will be barred if not
received by the deadline.
(c) If, after complying with the procedure in subsection
(b), the dissolved corporation rejects the claim in whole or
in part, the dissolved corporation shall notify the claimant
of such rejection and shall also notify the claimant that
the claim shall be barred unless the claimant files suit to
enforce the claim within a deadline not less than 90 days
from the date of the rejection notice.
(d) For purposes of this Section, "claim" does not include
any contingent liability or a claim arising after the
effective date of dissolution or a claim arising from the failure of the
corporation to pay any tax, penalty, or interest related to any tax or penalty.
(Source: P.A. 85-299.)
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