(805 ILCS 180/35-3)
Limited liability company continues after dissolution.
(a) Subject to subsections (b), (c), and (d) of this
Section, a limited liability company
dissolution only for the purpose of winding up its business.
(b) At any time after the dissolution of a limited liability company and
before the winding up of its business is completed, the members, including a
dissociated member whose dissociation caused the dissolution, may unanimously
waive the right to have the company's business wound up and the company
terminated. In that case:
(1) the limited liability company resumes carrying on
(c) If there are no members, the legal representative of the last remaining member may, within one year after the occurrence of the event that caused the dissociation of the last remaining member, agree in writing to continue the limited liability company. In that event, the legal representative or its nominee or designee will be admitted to the company as a member and the company will not be dissolved or its business wound up until the occurrence of a future event of dissolution, if any.
(d) This Section does not apply in the case of a dissolution described in subdivision (4), (5), or (6) of Section 35-1.
(Source: P.A. 98-720, eff. 7-16-14; 99-637, eff. 7-1-17