Illinois General Assembly - Illinois Compiled Statutes

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205 ILCS 405/13.1

(205 ILCS 405/13.1) (from Ch. 17, par. 4822)

Sec. 13.1. Consolidation of business locations.

Whenever 2 or more
licensees desire to consolidate their places
of business, they shall make application for such consolidation to the
Secretary upon a form provided by him or her. This application shall state: (a) the
name to be adopted and the location at which the business is to be located,
which name and location shall be the same as one of the consolidating
licensees; (b) that the owners or all partners or all stockholders or all
members, as the
case may be, of the licensees involved in the contemplated consolidation,
have approved the application; (c) a certification by the secretary, if any
of the licensees be corporations, that the contemplated consolidation has
been approved by all of the stockholders at a properly convened
stockholders meeting; (d) other relevant information the Secretary may
require. Simultaneously with the approval of the application by the
Secretary, the licensee or licensees who will cease doing business shall:
(a) surrender their license or licenses to the Secretary; (b) transfer all
of their assets and liabilities to the licensee continuing to operate by
virtue of the application; (c) apply to the Secretary of State, if they be
corporations, for surrender of their corporate charter in accordance with
the provisions of the Business Corporation Act of 1983.

An application for consolidation shall be approved or rejected by the
Secretary within 30 days after receipt by him of such application and
supporting documents required thereunder. The Secretary shall impose a consolidation fee of $100 per application.

Such consolidation shall not affect suits pending in which the
surrendering licensees are parties; nor shall such consolidation affect
causes of action nor the rights of persons in particular; nor shall suits
brought against such licensees in their former names be abated for that
cause.

Nothing contained herein shall limit or prohibit any action or remedy
available to a licensee or to the Secretary under Sections 15, 15.1 to 15.1e
or 15.2 of this Act.

(Source: P.A. 97-315, eff. 1-1-12.)