(805 ILCS 105/112.25) (from Ch. 32, par. 112.25)
Sec. 112.25.
Revocation of Dissolution.
(a) A
corporation may revoke its dissolution within 60 days of its
effective date if the corporation has not begun to
distribute its assets or has not commenced a proceeding for
court supervision of its winding up under Section 112.50 of
this Act.
(b) The corporation's board of directors may revoke the
dissolution without action by members entitled to vote on
dissolution.
(c) Within 60 days after the dissolution has been
revoked by the corporation, articles of
revocation of dissolution shall be executed and filed in
duplicate in accordance with Section 101.10 of this Act and
shall set forth:
(1) The name of the corporation;
(2) The effective date of the dissolution that was
revoked;
(3) A statement that the corporation has not begun to distribute its assets nor has it | ||
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(4) The date the revocation of dissolution was
authorized;
(5) A statement that the corporation's board of
directors revoked the dissolution.
(d) When the provisions of this Section have been complied
with, the Secretary of State shall file the articles of
revocation of dissolution. Failure to file the revocation of dissolution
as required in subsection (c) hereof shall not be grounds for the Secretary
of State to reject the filing, but the corporation filing beyond the time
period shall pay a penalty as prescribed by this Act.
(e) The revocation of dissolution is effective on the date
of the filing of the articles thereof by
the Secretary
of State and shall relate back and take effect as of the
date of dissolution and the
corporation may resume conducting affairs as if dissolution
had never occurred.
(Source: P.A. 92-33, eff. 7-1-01.)
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