(805 ILCS 180/25-45)
Known claims against dissolved limited liability company.
(a) A dissolved limited liability company may dispose of the known claims
against it by following the procedure described in this Section.
(b) A dissolved limited liability company shall notify its known claimants
writing of the dissolution. The notice must:
(1) specify the information required to be included
(2) provide a mailing address where the claim is to
(3) state the deadline for receipt of the claim,
which may not be less than 120 days after the date the written notice is received by the claimant; and
(4) state that the claim will be barred if not
received by the deadline.
(c) A claim against a dissolved limited liability company is barred if the
requirements of subsection (b) of this Section are met, and:
(1) the claim is not received by the specified
(2) in the case of a claim that is timely received
but rejected by the dissolved company, the claimant does not commence a proceeding to enforce the claim within 90 days after the receipt of the notice of the rejection.
(d) For purposes of this Section, the term "claim" does not include a
liability or a claim based on an event occurring after the effective
date of dissolution.
(Source: P.A. 90-424, eff. 1-1-98.)