Illinois General Assembly - Illinois Compiled Statutes

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805 ILCS 180/35-20

(805 ILCS 180/35-20)

Sec. 35-20. Filing of statement of termination.

(a) Duplicate originals of the statement of termination 
shall be delivered to the Secretary of State.  If the
Secretary of State finds that the statement of termination conforms to law, he or she shall, when all required fees
have been paid:

(1) endorse on each duplicate original the word

"Filed" and the date of the filing thereof; and

(2) file one duplicate original in his or her
office.

(b) A duplicate original of the statement of termination 
shall be returned to the representative of the dissolved
limited liability company.  Upon the filing of a statement 
of termination, the existence of the company shall terminate, and
its articles of organization shall be deemed cancelled,
except for the purpose of suits, other proceedings, and
appropriate action as provided in this Article.  The manager
or managers or member or members at the time of termination, or those that
remain, shall thereafter be trustee for the members and
creditors of the terminated company and, in
that capacity, shall have authority to convey or distribute
any company property discovered after termination and take
any other action that may be necessary on behalf of and in the
name of the terminated company.

(Source: P.A. 99-637, eff. 7-1-17.)