(805 ILCS 5/13.50)
(from Ch. 32, par. 13.50)
Grounds for revocation of authority.
The authority of a foreign corporation to transact
business in this State may be revoked by the Secretary of State:
(a) Upon the failure of an officer or director to whom
interrogatories have been propounded by the Secretary of State as
provided in this Act, to answer the same fully and to file such answer
in the office of the Secretary of State.
(b) If the answer to such interrogatories discloses, or if the fact
is otherwise ascertained, that the proportion of the sum of the paid-in
capital of such corporation represented in this
State is greater than the amount on which such corporation has
theretofore paid fees and franchise taxes, and the deficiency therein is
(c) If the corporation for a period of one year has transacted no
business and has had no tangible property in this State as revealed by
its annual reports.
(d) Upon the failure of the corporation to keep on
file in the office of the Secretary of State duly authenticated copies
of each amendment to its articles of incorporation.
(e) Upon the failure of the corporation to appoint
and maintain a registered agent in this State.
(g) Upon the failure of the corporation to file any report
after the period prescribed by this Act for the filing of
(h) Upon the failure of the corporation to pay any
fees, franchise taxes, or charges prescribed by this Act.
(i) For misrepresentation of any material matter in any application,
report, affidavit, or other document filed by such corporation pursuant
to this Act.
(j) Upon the failure of the corporation to renew its assumed name or to
apply to change its assumed name pursuant to the provisions of this Act,
when the corporation can only transact business within this State under
its assumed name in accordance with the provisions of Section 4.05 of this Act.
(k) When under the provisions of the "Consumer Fraud and Deceptive Business
Practices Act" a court has found that the corporation substantially and
willfully violated such Act.
(l) Upon tender of payment to the Secretary of State which is subsequently
returned due to insufficient funds, a closed account, or any other reason, and
payment has not been subsequently tendered.
(m) When the Secretary of State receives a copy of a memorandum of judgment relating to a judgment entered for money owed to a unit of local government or school district, together with a statement filed by its attorney that the judgment has not been satisfied and that no appeal has been filed.
(Source: P.A. 95-515, eff. 8-28-07; 96-1121, eff. 1-1-11.)