Public Act 93-0059

SB1506 Enrolled                      LRB093 03499 DRJ 11091 b

    AN ACT in relation to business organizations.

    Be it  enacted  by  the  People  of  the  State  of  Illinois,
represented in the General Assembly:

    Section 5.  The Trademark Registration and Protection Act
is amended by changing Section 50 as follows:

    (765 ILCS 1036/50)
    Sec. 50.  Classification. The  Secretary  shall  by  rule
establish   a   classification  of  goods  and  services  for
convenience of administration of this Act, but not  to  limit
or  extend  the  applicant's  or  registrant's  rights, and a
single application for registration of a mark may include any
or all goods upon which, or services with which, the mark  is
actually  being  used  and  which  are  comprised in a single
class.  In no event shall a single application include  goods
or  services upon which the mark is being used and which fall
within different  classes.   To  the  extent  practical,  the
classification  of  goods  and services should conform to the
classification  adopted  by  the  United  States  Patent  and
Trademark Office.
                   Classification of Goods
Class     Title
1         Chemicals
2         Paints
3         Cosmetics and cleaning preparations
4         Lubricants and fuels
5         Pharmaceuticals
6         Metal goods
7         Machinery
8         Hand tools
9         Electrical and scientific apparatus
10        Medical apparatus
11        Environmental control apparatus
12        Vehicles
13        Firearms
14        Jewelry
15        Musical Instruments
16        Paper goods and printed matter
17        Rubber goods
18        Leather goods
19        Non-metallic building materials
20        Furniture and articles not otherwise classified
21        Housewares and glass
22        Cordage and fibers
23        Yarns and threads
24        Fabrics
25        Clothing
26        Fancy goods
27        Floor coverings
28        Toys and sporting goods
29        Meats and processed foods
30        Staple foods
31        Natural agricultural products
32        Light beverages
33        Wine and spirits
34        Smoker's articles
35        Advertising and business
36        Insurance and financial
37        Building construction and repair
38        Telecommunications
39        Transportation and storage
40        Treatment of materials
41        Education and entertainment
42        Scientific, technological, or legal Miscellaneous
43        Restaurants, hotels, motels, and boarding
44        Medical, veterinary, beauty care, and forestry
45        Personal, social, and security
(Source: P.A. 90-231, eff. 1-1-98.)

    Section 10. The  Business  Corporation  Act  of  1983  is
amended  by  changing  Sections 1.15, 2.10, 4.10, 5.10, 5.20,
10.35, 11.37,  11.45,  11.75,  12.35,  12.40,  13.40,  13.45,
13.50,  13.55,  13.75, 14.05, 15.05, 15.10, 15.80, 15.95, and
15.97 as follows:

    (805 ILCS 5/1.15) (from Ch. 32, par. 1.15)
    Sec. 1.15.  Statement of correction.
    (a)  Whenever any instrument authorized to be filed  with
the  Secretary  of  State under any provision of this Act has
been so filed and, as of  the  date  of  the  action  therein
referred to, contains any misstatement of fact, typographical
error, error of transcription or any other error or defect or
was  defectively or erroneously executed, such instrument may
be corrected by filing, in accordance with  Section  1.10  of
this Act, a statement of correction.
    (b)  A statement of correction shall set forth:
         (1)  The   name  or  names  of  the  corporation  or
    corporations and the State or country under the  laws  of
    which each is organized.
         (2)  The title of the instrument being corrected and
    the date it was filed by the Secretary of State.
         (3)  The inaccuracy, error or defect to be corrected
    and the portion of the instrument in corrected form.
    (c)  A  statement  of correction shall be executed in the
same manner in  which  the  instrument  being  corrected  was
required to be executed.
    (d)  The  corrected  instrument  shall be effective as of
the date the original instrument was filed.
    (e)  A statement of correction shall not:
         (1)  Effect any  change  or  amendment  of  articles
    which  would  not  in all respects have complied with the
    requirements of this  Act  at  the  time  of  filing  the
    instrument being corrected.
         (2)  Take  the  place  of any document, statement or
    report otherwise required to be filed by this Act.
         (3)  Affect  any  right  or  liability  accrued   or
    incurred  before  such  filing,  except that any right or
    liability accrued or incurred by reason of the  error  or
    defect  being  corrected  shall  be  extinguished by such
    filing  if  the  person  having  such   right   has   not
    detrimentally relied on the original instrument.
         (4)  Alter   the   provisions  of  the  articles  of
    incorporation with respect to  the  corporation  name  or
    purpose,  the class or classes and number of shares to be
    authorized,  and  the  names   and   addresses   of   the
    incorporators or initial directors.
         (5)  Alter  the  provisions  of  the application for
    certificate of authority of a  foreign  corporation  with
    respect to the corporation name.
         (6)  Alter  the  provisions  of  the  application to
    adopt or change an assumed corporate name with respect to
    the assumed corporate name.
         (7)  Alter the wording of any resolution as filed in
    any document with the Secretary of State and which was in
    fact  adopted  by  the  board  of  directors  or  by  the
    shareholders.
         (8)  Alter  the  provisions  of  the  statement   of
    election  of an extended filing month with respect to the
    extended filing month.
    (f)  A statement of correction may correct the basis,  as
established by any document required to be filed by this Act,
of  license  fees,  taxes, penalty, interest, or other charge
paid or payable under this Act.
    (g)  A statement of correction may  provide  the  grounds
for a petition for a refund or an adjustment of an assessment
filed under Section 1.17 of this Act.
(Source: P.A. 91-464, eff. 1-1-00.)

    (805 ILCS 5/2.10) (from Ch. 32, par. 2.10)
    Sec.  2.10.  Articles  of Incorporation.  The articles of
incorporation shall be executed and  filed  in  duplicate  in
accordance with Section 1.10 of this Act.
    (a)  The articles of incorporation must set forth:
         (1)  a  corporate  name  for  the  corporation  that
    satisfies the requirements of this Act;
         (2)  the   purpose   or   purposes   for  which  the
    corporation is organized, which may be stated to  be,  or
    to   include,  the  transaction  of  any  or  all  lawful
    businesses for which  corporations  may  be  incorporated
    under this Act;
         (3)  the   address   of  the  corporation's  initial
    registered office and the name of its initial  registered
    agent at that office;
         (4)  the name and address of each incorporator;
         (5)  the   number   of  shares  of  each  class  the
    corporation is authorized to issue;
         (6)  the  number  and  class  of  shares  which  the
    corporation proposes to issue without further  report  to
    the  Secretary  of  State,  and  the  consideration to be
    received, less expenses, including commissions,  paid  or
    incurred  in  connection  with the issuance of shares, by
    the corporation therefor.  If shares  of  more  than  one
    class  are  to be issued, the consideration for shares of
    each class shall be separately stated;
         (7)  if the shares are  divided  into  classes,  the
    designation   of  each  class  and  a  statement  of  the
    designations, preferences,  qualifications,  limitations,
    restrictions, and special or relative rights with respect

    to the shares of each class; and
         (8)  if  the corporation may issue the shares of any
    preferred  or  special  class   in   series,   then   the
    designation  of  each  series  and  a  statement  of  the
    variations  in the relative rights and preferences of the
    different series, if the same are fixed in  the  articles
    of  incorporation, or a statement of the authority vested
    in  the  board  of  directors  to  establish  series  and
    determine the  variations  in  the  relative  rights  and
    preferences of the different series.

    (b)  The articles of incorporation may set forth:
         (1)  the   names   and  business  addresses  of  the
    individuals who are to serve as the initial directors;
         (2)  provisions  not  inconsistent  with  law   with
    respect to:
              (i)  managing  the  business and regulating the
         affairs of the corporation;
              (ii)  defining, limiting,  and  regulating  the
         rights,  powers  and  duties of the corporation, its
         officers, directors and shareholders;
              (iii)  authorizing and limiting the  preemptive
         right  of  a  shareholder to acquire shares, whether
         then or thereafter authorized;
              (iv)  an estimate, expressed in dollars, of the
         value of  all  the  property  to  be  owned  by  the
         corporation   for   the   following  year,  wherever
         located,  and  an  estimate  of  the  value  of  the
         property to be located within this State during such
         year, and an estimate, expressed in dollars, of  the
         gross amount of business which will be transacted by
         it  during  such  year  and an estimate of the gross
         amount thereof which will be transacted by it at  or
         from  places  of  business in this State during such
         year; or
              (v)  superseding any provision of this Act that
         requires  for  approval  of   corporate   action   a
         two-thirds  vote  of  the shareholders by specifying
         any smaller or larger vote requirement not less than
         a majority of the  outstanding  shares  entitled  to
         vote  on  the matter and not less than a majority of
         the outstanding  shares  of  each  class  of  shares
         entitled to vote as a class on the matter.
         (3)  a   provision   eliminating   or  limiting  the
    personal liability of a director to  the  corporation  or
    its  shareholders  for  monetary  damages  for  breach of
    fiduciary duty as a director, provided that the provision
    does not eliminate or limit the liability of  a  director
    (i)  for  any breach of the director's duty of loyalty to
    the corporation or its shareholders,  (ii)  for  acts  or
    omissions  not  in good faith or that involve intentional
    misconduct or a knowing violation  of  law,  (iii)  under
    Section  8.65  of  this  Act, or (iv) for any transaction
    from which the  director  derived  an  improper  personal
    benefit.   No such provision shall eliminate or limit the
    liability of a director for any act or omission occurring
    before the date when the provision becomes effective.
         (4)  any provision that under this Act  is  required
    or   permitted  to  be  set  forth  in  the  articles  of
    incorporation or by-laws.
    (c)  The articles of incorporation need not set forth any
of the corporate powers enumerated in this Act.
    (d)  The duration of a corporation  is  perpetual  unless
otherwise specified in the articles of incorporation.
    (e)  If   the   data   to  which  reference  is  made  in
subparagraph (iv) of paragraph (2) of subsection (b) of  this
Section is not included in the articles of incorporation, the
franchise  tax  provided for in this Act shall be computed on
the basis of the entire paid-in capital as set forth pursuant
to paragraph (6) of subsection (a)  of  this  Section,  until
such  time  as  the  data  to  which  reference  is  made  in
subparagraph  (iv)  of  paragraph  (2)  of  subsection (b) is
provided in accordance with either Section 14.05  or  Section
14.25 of this Act.
    When  the  provisions  of this Section have been complied
with, the Secretary of  State  shall  file  the  articles  of
incorporation.
(Source: P.A. 92-33, eff. 7-1-01.)

    (805 ILCS 5/4.10) (from Ch. 32, par. 4.10)
    Sec. 4.10.  Reserved name. The exclusive right to the use
of a corporate name or an assumed corporate name, as the case
may be, may be reserved by:
    (a)  Any person intending to organize a corporation under
this Act.
    (b)  Any  domestic  corporation  intending  to change its
name.
    (c)  Any   foreign   corporation   intending   to    make
application  for  a  certificate  of  authority  to  transact
business in this State.
    (d)  Any   foreign  corporation  authorized  to  transact
business in this State and intending to change its name.
    (e)  Any  person  intending   to   organize   a   foreign
corporation  and  intending  to  have  such  corporation make
application  for  a  certificate  of  authority  to  transact
business in this State.
    (f)  Any  domestic  corporation  intending  to  adopt  an
assumed corporate name.
    (g)  Any  foreign  corporation  authorized  to   transact
business  in  this  State  and  intending to adopt an assumed
corporate name.
    Such reservation shall be made by filing in the office of
the Secretary of State an application to reserve a  specified
corporate   name  or  a  specified  assumed  corporate  name,
executed by the applicant. If the Secretary  of  State  finds
that  such  name  is  available  for corporate use, he or she
shall  reserve  the  same  for  the  exclusive  use  of  such
applicant for a period of ninety days or until surrendered by
a written cancellation  document  signed  by  the  applicant,
whichever is sooner.
    The  right  to the exclusive use of a specified corporate
name or assumed corporate name so reserved may be transferred
to any other person by filing in the office of the  Secretary
of  State  a  notice of such transfer, executed by the person
for whom such name was reserved, and specifying the name  and
address of the transferee.
    The  Secretary  of  State  may revoke any reservation if,
after a  hearing,  he  or  she  finds  that  the  application
therefor  or  any  transfer thereof was made contrary to this
Act.
(Source: P.A. 83-1025.)

    (805 ILCS 5/5.10) (from Ch. 32, par. 5.10)
    Sec. 5.10.  Change of  registered  office  or  registered
agent.
    (a)  A  domestic corporation or a foreign corporation may
from time to  time  change  the  address  of  its  registered
office. A domestic corporation or a foreign corporation shall
change its registered agent if the office of registered agent
shall  become  vacant  for  any  reason, or if its registered
agent becomes disqualified or incapacitated to act, or if the
corporation revokes the appointment of its registered agent.
    (b)  A domestic corporation or a foreign corporation  may
change  the  address  of  its registered office or change its
registered agent, or both, by so indicating in the  statement
of  change  on  the  annual  report of that corporation filed
pursuant to Section 14.10 of this Act  or  by  executing  and

filing, in duplicate, in accordance with Section 1.10 of this
Act a statement setting forth:
         (1)  The name of the corporation.
         (2)  The  address,  including  street and number, or
    rural route number, of its then registered office.
         (3)  If the address  of  its  registered  office  be
    changed,  the  address,  including  street and number, or
    rural route number, to which the registered office is  to
    be changed.
         (4)  The name of its then registered agent.
         (5)  If its registered agent be changed, the name of
    its successor registered agent.
         (6)  That  the  address of its registered office and
    the address of the  business  office  of  its  registered
    agent, as changed, will be identical.
         (7)  That  such  change was authorized by resolution
    duly adopted by the board of directors.
    (c)  (Blank). A legible copy of the statement  of  change
as  on  the  annual report returned by the Secretary of State
shall be filed for record within the time prescribed by  this
Act  in the office of the Recorder of the county in which the
registered office  of  the  corporation  in  this  State  was
situated before the filing of that statement in the Office of
the Secretary of State.
    (d)  If  the registered office is changed from one county
to another county, then the corporation shall also  file  for
record  within  the time prescribed by this Act in the office
of the recorder of the county to which such registered office
is changed:
         (1)  In the case of a domestic corporation:
              (i)  A copy of its  articles  of  incorporation
         certified by the Secretary of State.
              (ii)  A  copy  of  the  statement  of change of
         address of its registered office, certified  by  the
         Secretary of State.
         (2)  In the case of a foreign corporation:
              (i)  A copy of its application for authority to
         transact  business  in  this State, certified by the
         Secretary of State.
              (ii)  A  copy  of  all   amendments   to   such
         authority,   if   any,  likewise  certified  by  the
         Secretary of State.
              (iii)  A copy of the  statement  of  change  of
         address  of  its  registered office certified by the
         Secretary of State.
    (e)  The change of address of the registered  office,  or
the  change of registered agent, or both, as the case may be,
shall become effective upon the filing of such  statement  by
the Secretary of State.
(Source: P.A. 91-357, eff. 7-29-99; 92-33, eff. 7-1-01.)

    (805 ILCS 5/5.20) (from Ch. 32, par. 5.20)
    Sec. 5.20.  Change of Address of Registered Agent.
    (a)  A  registered  agent  may  change the address of the
registered office of  the  domestic  corporation  or  of  the
foreign  corporation, for which he or she or it is registered
agent, to another address in this State, by so indicating  in
the  statement  of  change  on  the  annual  report  of  that
corporation filed pursuant to Section 14.10 of this Act or by
filing, in duplicate, in accordance with Section 1.10 of this
Act a statement setting forth:
         (1)  The name of the corporation.
         (2)  The  address,  including  street and number, or
    rural route number, of its then registered office.
         (3)  The address, including street  and  number,  or
    rural  route number, to which the registered office is to
    be changed.
         (4)  The name of its registered agent.
         (5)  That the address of its registered  office  and
    the  address  of  the  business  office of its registered
    agent, as changed, will be identical.
    Such statement shall be executed by the registered agent.
    (b)  If the registered office is changed from one  county
to  another  county, then the corporation shall also file for
record within the time prescribed by this Act in  the  office
of the recorder of the county to which such registered office
is changed:
         (1)  In the case of a domestic corporation:
              (i)  A  copy  of  its articles of incorporation
         certified by the Secretary of State.
              (ii)  A copy of  the  statement  of  change  of
         address  of  its registered office, certified by the
         Secretary of State.
         (2)  In the case of a foreign corporation:
              (i)  A copy of its application for authority to
         transact business in this State,  certified  by  the
         Secretary of State.
              (ii)  A   copy   of   all  amendments  to  such
         authority,  if  any,  likewise  certified   by   the
         Secretary of State.
              (iii)  A  copy  of  the  statement of change of
         address of its registered office  certified  by  the
         Secretary of State.
    (c)  The change of address of the registered office shall
become  effective  upon  the  filing of such statement by the
Secretary of State.
(Source: P.A. 92-33, eff. 7-1-01.)

    (805 ILCS 5/10.35) (from Ch. 32, par. 10.35)
    Sec. 10.35.  Effect of certificate of amendment.
    (a)  The  amendment  shall  become  effective   and   the
articles  of  incorporation  shall  be  deemed  to be amended
accordingly, as of the later of:
         (1)  the filing of the articles of amendment by  the
    Secretary of State; or
         (2)  the  time  established  under  the  articles of
    amendment, not to exceed 30 days after the filing of  the
    articles of amendment by the Secretary of State.
    (b)  If  the  amendment  is  made  in accordance with the
provisions of Section 10.40, upon the filing of the  articles
of  amendment  by the Secretary of State, the amendment shall
become effective and the articles of incorporation  shall  be
deemed  to be amended accordingly, without any action thereon
by the directors or shareholders of the corporation and  with
the  same  effect  as  if  the amendments had been adopted by
unanimous action of the directors  and  shareholders  of  the
corporation.
    (c)  If   the   amendment   restates   the   articles  of
incorporation, such restated articles of incorporation shall,
upon such amendment becoming effective, supersede  and  stand
in   lieu   of  the  corporation's  preexisting  articles  of
incorporation.
    (d)  If   the   amendment   revives   the   articles   of
incorporation and extends the period of  corporate  duration,
upon the filing of the articles of amendment by the Secretary
of  State,  the  amendment  shall  become  effective  and the
corporate existence shall be deemed to have continued without
interruption from the date  of  expiration  of  the  original
period  of  duration, and the corporation shall stand revived
with such powers, duties and obligations as if its period  of
duration had not expired; and all acts and proceedings of its
officers, directors and shareholders, acting or purporting to
act  as  such,  which would have been legal and valid but for
such expiration, shall stand ratified and confirmed.
    (e)  Each amendment which affects the  number  of  issued
shares or the amount of paid-in capital shall be deemed to be
a report under the provisions of this Act.
    (f)  No  amendment  of the articles of incorporation of a
corporation shall affect any  existing  cause  of  action  in
favor  of or against such corporation, or any pending suit in
which such corporation shall be  a  party,  or  the  existing
rights  of persons other than shareholders; and, in the event
the corporate name shall be changed  by  amendment,  no  suit
brought  by or against such corporation under its former name
shall be abated for that reason.
(Source: P.A. 91-464, eff. 1-1-00; 92-33, eff. 7-1-01.)

    (805 ILCS 5/11.37) (from Ch. 32, par. 11.37)
    Sec.  11.37.  Merger  or  consolidation  of  domestic  or
foreign   corporations   and   domestic   not   for    profit
corporations.   (a)  One or more domestic corporations or one
or more foreign corporations may merge into  a  domestic  not
for  profit  corporation  subject  to  the  provisions of the
General Not For Profit Corporation Act of 1986,  as  amended,
provided  that  in  the  case  of  a  foreign corporation for
profit, such merger or consolidation is permitted by the laws
of the State or country under which such foreign  corporation
for profit is organized.
    (b)  Each  domestic  corporation  shall  comply  with the
provisions  of  this  Act  with  respect  to  the  merger  or
consolidation of domestic corporations, each domestic not for
profit corporation shall comply with the  provisions  of  the
General  Not  For Profit Corporation Act of 1986, as amended.
With respect to merger or consolidation of domestic  not  for
profit  corporations,  each  foreign  corporation  for profit
shall comply with the laws of  the  state  or  country  under
which  it  is  organized,  and  each  foreign corporation for
profit having a certificate of authority to transact business
in this State under the provisions of this Act  shall  comply
with  the  provisions  of  this Act with respect to merger or
consolidation of foreign corporations for profit.
    (c)  The plan of merger or consolidation shall set forth,
in addition to all matters required by Section 11.05 of  this
Act,  the  manner  and  basis  of  converting  shares of each
merging or consolidating domestic or foreign corporation  for
profit into membership or other interests of the surviving or
new  domestic  not  for  profit corporation, or into cash, or
into property, or into any combination of the foregoing.
    (d)  The effect of a merger or consolidation  under  this
Section  shall  be  the  same  as  in the case of a merger or
consolidation  of  domestic  corporations  as  set  forth  in
subsection (a) of Section 11.50 of this Act.
    (e)  When such merger or consolidation has been effected,
the shares of the corporation or corporations to be converted
under the terms of the plan cease to exist.  The  holders  of
those  shares  are  entitled  only to the membership or other
interests, cash, or other property  or  combination  thereof,
into  which  those  shares  have been converted in accordance
with the  plan,  subject  to  any  dissenters'  rights  under
Section 11.70 of this Act.
(Source: P.A. 85-1269.)

    (805 ILCS 5/11.45) (from Ch. 32, par. 11.45)
    Sec.  11.45.  Recording  of  certificate  and articles of
merger, consolidation or exchange. A copy of the articles  of
merger,  consolidation  or exchange as filed by the Secretary
of State shall  be  returned  to  the  surviving  or  new  or
acquiring  corporation,  as  the  case  may  be,  or  to  its
representative,   and   such  articles,  or  a  copy  thereof
certified by the Secretary  of  State,  shall  be  filed  for
record within the time prescribed by Section 1.10 of this Act
in  the  office  of  the Recorder of each county in which the
registered  office  of  each  merging  or  consolidating   or
acquiring  corporation  may be situated, and in the case of a
consolidation, in the office of the Recorder of the county in
which the registered office of the new corporation  shall  be
situated  and, in the case of a share exchange, in the office
of the Recorder of the county in which the registered  office
of  the  corporation  whose  shares  were  acquired  shall be
situated.
(Source: P.A. 92-33, eff. 7-1-01.)

    (805 ILCS 5/11.75) (from Ch. 32, par. 11.75)
    Sec.  11.75.   Business  combinations   with   interested
shareholders.
    (a)  Notwithstanding  any other provisions of this Act, a
corporation (as defined in  this  Section  11.75)  shall  not
engage  in  any  business  combination  with  any  interested
shareholder  for  a period of 3 years following the time that
such shareholder became an interested shareholder, unless (1)
prior to such time the board of directors of the  corporation
approved  either  the business combination or the transaction
which resulted in  the  shareholder  becoming  an  interested
shareholder,  or  (2)  upon  consummation  of the transaction
which resulted in  the  shareholder  becoming  an  interested
shareholder, the interested shareholder owned at least 85% of
the  voting shares of the corporation outstanding at the time
the  transaction  commenced,  excluding   for   purposes   of
determining  the  number  of  shares outstanding those shares
owned (i) by persons who are directors and also officers  and
(ii)  employee  stock plans in which employee participants do
not have the right to determine confidentially whether shares
held subject to the plan will be  tendered  in  a  tender  or
exchange  offer,  or  (3)  at  or subsequent to such time the
business combination is approved by the  board  of  directors
and   authorized   at   an   annual  or  special  meeting  of
shareholders, and not by written consent, by the  affirmative
vote  of  at  least  66 2/3% of the outstanding voting shares
which are not owned by the interested shareholder.
    (b)  The restrictions contained in this Section shall not
apply if:
         (1)  the   corporation's   original   articles    of
    incorporation contains a provision expressly electing not
    to be governed by this Section;
         (2)  the  corporation,  by  action  of  its board of
    directors, adopts an amendment to its by-laws  within  90
    days  of  the  effective  date  of this amendatory Act of
    1989, expressly electing  not  to  be  governed  by  this
    Section,  which amendment shall not be further amended by
    the board of directors;
         (3)  the corporation, by action of its shareholders,
    adopts an amendment to its articles of  incorporation  or
    by-laws  expressly  electing  not  to be governed by this
    Section, provided that, in addition  to  any  other  vote
    required  by  law,  such  amendment  to  the  articles of
    incorporation  or  by-laws  must  be  approved   by   the
    affirmative  vote of a majority of the shares entitled to
    vote. An amendment adopted  pursuant  to  this  paragraph
    shall   be   effective  immediately  in  the  case  of  a
    corporation that both (i) has never had a class of voting
    shares that falls within any of the categories set out in
    paragraph (4) of this subsection (b)  and  (ii)  has  not
    elected  by  a  provision  in  its  original  articles of
    incorporation or any amendment thereto to be governed  by
    this  Section.   In all other cases, an amendment adopted
    pursuant to this paragraph shall not be  effective  until
    12  months after the adoption of such amendment and shall
    not  apply  to  any  business  combination  between  such
    corporation and  any  person  who  became  an  interested
    shareholder  of  such  corporation  on  or  prior to such
    adoption. A by-law amendment  adopted  pursuant  to  this
    paragraph  shall  not  be further amended by the board of
    directors;
         (4)  the corporation does not have a class of voting
    shares that  is  (i)  listed  on  a  national  securities
    exchange,  (ii)  authorized  for  quotation on the NASDAQ
    Stock Market or (iii) held of record by more  than  2,000
    shareholders,  unless  any  of the foregoing results from
    action taken, directly or indirectly,  by  an  interested
    shareholder  or  from  a  transaction  in  which a person
    becomes an interested shareholder;
         (5)  a shareholder becomes an interested shareholder
    inadvertently and (i)  as  soon  as  practicable  divests
    itself  of  ownership  of  sufficient  shares so that the
    shareholder ceases to be an  interested  shareholder  and
    (ii)  would  not,  at  any  time within the 3 year period
    immediately prior to a business combination  between  the
    corporation and such shareholder, have been an interested
    shareholder   but  for  the  inadvertent  acquisition  of
    ownership;
         (6)  the business combination is proposed  prior  to
    the  consummation or abandonment of and subsequent to the
    earlier of the public announcement or the notice required
    hereunder of a proposed transaction which (i) constitutes
    one of the transactions described in the second  sentence
    of this paragraph; (ii) is with or by a person who either
    was  not  an interested shareholder during the previous 3
    years or who became an interested  shareholder  with  the
    approval  of  the  corporation's  board  of  directors or
    during the period described  in  paragraph  (7)  of  this
    subsection (b); and (iii) is approved or not opposed by a
    majority of the members of the board of directors then in
    office  (but not less than 1) who were directors prior to
    any person becoming an interested shareholder during  the
    previous  3  years  or  were  recommended for election or
    elected to succeed such directors by a majority  of  such
    directors.   The proposed transactions referred to in the
    preceding  sentence  are  limited  to  (x)  a  merger  or
    consolidation of the corporation (except for a merger  in
    respect  of  which, pursuant to subsection (c) of Section
    11.20 of this Act, no vote of  the  shareholders  of  the
    corporation  is  required);  (y) a sale, lease, exchange,
    mortgage, pledge, transfer or other disposition  (in  one
    transaction or a series of transactions), whether as part
    of   a   dissolution  or  otherwise,  of  assets  of  the
    corporation or of any direct or  indirect  majority-owned
    subsidiary  of  the corporation (other than to any direct
    or   indirect   wholly-owned   subsidiary   or   to   the
    corporation) having an aggregate market  value  equal  to
    50%  or  more of either the aggregate market value of all
    of  the  assets  of  the  corporation  determined  on   a
    consolidated  basis  or the aggregate market value of all
    the outstanding shares  of  the  corporation;  or  (z)  a
    proposed  tender or exchange offer for 50% or more of the
    outstanding  voting  shares  of  the  corporation.    The
    corporation  shall  give  not less than 20 days notice to
    all interested shareholders prior to the consummation  of
    any  of  the transactions described in clauses (x) or (y)
    of the second sentence of this paragraph; or
         (7)  The business combination is with an  interested
    shareholder  who  became  an  interested shareholder at a
    time when the restrictions contained in this Section  did
    not  apply by reason of any of the paragraphs (1) through
    (4) of this subsection (b), provided, however, that  this
    paragraph  (7)  shall  not  apply  if,  at  the  time the
    interested shareholder became an interested  shareholder,
    the  corporation's  articles of incorporation contained a
    provision  authorized  by  the  last  sentence  of   this
    subsection (b).  Notwithstanding paragraphs (1), (2), (3)
    and  (4)  of  this  subsection  and  subparagraph  (A) of
    paragraph (5) of subsection (c), any domestic corporation
    may elect by a provision  of  its  original  articles  of
    incorporation  or any amendment thereto to be governed by
    this Section, provided that any  such  amendment  to  the
    articles  of  incorporation shall not apply to restrict a
    business  combination  between  the  corporation  and  an
    interested  shareholder  of  the   corporation   if   the
    interested shareholder became such prior to the effective
    date of the amendment.
    (c)  As used in this Section 11.75 only, the term:
         (1)  "Affiliate"  means  a  person that directly, or
    indirectly through one or more intermediaries,  controls,
    or  is  controlled  by,  or is under common control with,
    another person.
         (2)  "Associate"   when   used   to    indicate    a
    relationship  with any person, means (i) any corporation,
    partnership, unincorporated association, or other  entity
    of which such person is a director, officer or partner or
    is,  directly  or indirectly, the owner of 20% or more of
    any class of voting  shares,  (ii)  any  trust  or  other
    estate in which such person has at least a 20% beneficial
    interest  or as to which such person serves as trustee or
    in a similar fiduciary capacity, and (iii)  any  relative
    or spouse of such person, or any relative of such spouse,
    who has the same residence as such person.
         (3)  "Business  combination"  when used in reference
    to any corporation and any interested shareholder of such
    corporation, means:
              (A)  any  merger  or   consolidation   of   the
         corporation or any direct or indirect majority-owned
         subsidiary   of   the   corporation   with  (i)  the
         interested  shareholder,  or  (ii)  with  any  other
         corporation if the merger or consolidation is caused
         by the interested shareholder and  as  a  result  of
         such  merger or consolidation subsection (a) of this
         Section  is  not   applicable   to   the   surviving
         corporation;
              (B)  any   sale,   lease,  exchange,  mortgage,
         pledge,  transfer  or  other  disposition  (in   one
         transaction  or  a  series  of transactions), except
         proportionately   as   a   shareholder    of    such
         corporation,  to or with the interested shareholder,
         whether as part of a dissolution  or  otherwise,  of
         assets  of  the  corporation  or  of  any  direct or
         indirect   majority-owned    subsidiary    of    the
         corporation  which  assets  have an aggregate market
         value equal to 10% or more of either  the  aggregate
         market  value  of  all the assets of the corporation
         determined on a consolidated basis or the  aggregate
         market  value  of  all the outstanding shares of the
         corporation;
              (C)  any  transaction  which  results  in   the
         issuance  or  transfer  by the corporation or by any
         direct or indirect majority-owned subsidiary of  the
         corporation  of  any shares of the corporation or of
         such  subsidiary  to  the  interested   shareholder,
         except  (i)  pursuant  to  the exercise, exchange or
         conversion   of    securities    exercisable    for,
         exchangeable  for or convertible into shares of such
         corporation or any such subsidiary which  securities
         were   outstanding   prior  to  the  time  that  the
         interested shareholder became such, (ii) pursuant to
         a dividend or distribution  paid  or  made,  or  the
         exercise,   exchange  or  conversion  of  securities
         exercisable for,  exchangeable  for  or  convertible
         into   shares   of  such  corporation  or  any  such
         subsidiary which security is distributed,  pro  rata
         to  all  holders  of  a class or series of shares of
         such  corporation  subsequent  to   the   time   the
         interested  shareholder  became such, (iii) pursuant
         to an exchange offer by the corporation to  purchase
         shares made on the same terms to all holders of said
         shares,  or (iv)  any issuance or transfer of shares
         by the corporation, provided  however,  that  in  no
         case  under clauses (ii), (iii) and (iv) above shall
         there be an increase in the interested shareholder's
         proportionate share of the shares of  any  class  or
         series of the corporation or of the voting shares of
         the corporation;
              (D)  any  transaction involving the corporation
         or any direct or indirect majority-owned  subsidiary
         of the corporation which has the effect, directly or
         indirectly, of increasing the proportionate share of
         the  shares  of  any  class or series, or securities
         convertible into the shares of any class or  series,
         of  the  corporation or of any such subsidiary which
         is owned by the interested shareholder, except as  a
         result of immaterial changes due to fractional share
         adjustments  or  as  a  result  of  any  purchase or
         redemption of any shares of any class or series  not
         caused,  directly  or  indirectly, by the interested
         shareholder; or
              (E)  any receipt by the interested  shareholder
         of  the  benefit,  directly  or  indirectly  (except
         proportionately    as    a   shareholder   of   such
         corporation) of  any  loans,  advances,  guarantees,
         pledges,  or  other  financial  benefits (other than
         those  expressly  permitted  in  subparagraphs   (A)
         through  (D)  of  this paragraph (3)) provided by or
         through the corporation or any  direct  or  indirect
         majority owned subsidiary; or
              (F)  any  receipt by the interested shareholder
         of the  benefit,  directly  or  indirectly,  (except
         proportionately    as    a   shareholder   of   such
         corporation)  of  any   assets,   loans,   advances,
         guarantees,  pledges  or  other  financial  benefits
         (other    than    those   expressly   permitted   in
         subparagraphs (A) through (D) of this paragraph (3))
         provided by or through any "defined benefit  pension
         plan"  (as  defined  in  Section  3  of the Employee
         Retirement Income Security Act) of  the  corporation
         or any direct or indirect majority owned subsidiary.
         (4)  "Control",  including  the  term "controlling",
    "controlled by" and "under common  control  with",  means
    the  possession,  directly or indirectly, of the power to
    direct or cause  the  direction  of  the  management  and
    policies  of  a  person, whether through the ownership of
    voting shares, by contract or otherwise.  A person who is
    the owner of 20% or more of the outstanding voting shares
    of   any   corporation,    partnership,    unincorporated
    association,  or  other  entity shall be presumed to have
    control of such  entity,  in  the  absence  of  proof  by
    preponderance   of   the   evidence   to   the  contrary.
    Notwithstanding the foregoing, a presumption  of  control
    shall not apply where such person holds voting shares, in
    good  faith and not for the purpose of circumventing this
    Section, as an agent, bank, broker, nominee, custodian or
    trustee for one or more owners who do not individually or
    as a group have control of such entity.
         (5)  "Corporation"  means  a  domestic   corporation
    that:
              (A)  has any equity securities registered under
         Section 12 of the Securities Exchange Act of 1934 or
         is subject to Section 15(d) of that Act; and
              (B)  either
                   (i)  has  its  principal place of business
              or its principal executive  office  located  in
              Illinois; or
                   (ii)  owns   or  controls  assets  located
              within Illinois that have a fair  market  value
              of at least $1,000,000, and
              (C)  either
                   (i)  has more than 10% of its shareholders
              resident in Illinois;
                   (ii)  has  more  than  10%  of  its shares
              owned by Illinois residents; or
                   (iii)  has 2,000 shareholders resident  in
              Illinois.
         The residence of a shareholder is presumed to be the
    address  appearing  in  the  records  of the corporation.
    Shares held by banks  (except  as  trustee,  executor  or
    guardian), securities dealers or nominees are disregarded
    for  purposes  of calculating the percentages and numbers
    in this paragraph (5).
         (6)  "Interested  shareholder"  means   any   person
    (other  than  the  corporation and any direct or indirect
    majority-owned subsidiary of the corporation) that (i) is
    the owner of 15% or more of the outstanding voting shares
    of the corporation, or (ii) is an affiliate or  associate
    of  the  corporation  and was the owner of 15% or more of
    the outstanding voting shares of the corporation  at  any
    time  within  the  3 year period immediately prior to the
    date on which it is sought to be determined whether  such
    person  is  an interested shareholder; and the affiliates
    and associates of such person,  provided,  however,  that
    the  term  "interested shareholder" shall not include (x)
    any person who (A) owned shares  in  excess  of  the  15%
    limitation  set  forth  herein  as  of,  or acquired such
    shares pursuant to a tender offer commenced prior to  the
    effective date of this amendatory Act of 1989 or pursuant
    to  an  exchange  offer  announced prior to the aforesaid
    date and commenced within 90 days thereafter  and  either
    (I)  continued  to  own  shares  in  excess  of  such 15%
    limitation  or  would  have  but  for   action   by   the
    corporation  or  (II) is an affiliate or associate of the
    corporation and so continued (or so would have  continued
    but for action by the corporation) to be the owner of 15%
    or   more   of  the  outstanding  voting  shares  of  the
    corporation  at  any  time  within  the   3-year   period
    immediately prior to the date on which it is sought to be
    determined   whether  such  a  person  is  an  interested
    shareholder or (B) acquired said  shares  from  a  person
    described  in  (A)  above  by  gift,  inheritance or in a
    transaction in which no consideration was  exchanged;  or
    (y) any person whose ownership of shares in excess of the
    15%  limitation  set forth herein is the result of action
    taken solely  by  the  corporation,  provided  that  such
    person  shall  be an interested shareholder if thereafter
    such person acquires additional shares of  voting  shares
    of  the  corporation,  except  as  a  result  of  further
    corporate  action  not caused, directly or indirectly, by
    such person.  For the purpose of  determining  whether  a
    person is an interested shareholder, the voting shares of
    the  corporation  deemed  to be outstanding shall include
    shares  deemed  to  be  owned  by  the   person   through
    application  of paragraph (9) (8) of this subsection, but
    shall not include  any  other  unissued  shares  of  such
    corporation   which  may  be  issuable  pursuant  to  any
    agreement, arrangement or understanding, or upon exercise
    of conversion rights, warrants or options, or otherwise.
         (7)  "Person"  means  any  individual,  corporation,
    partnership, unincorporated association or other entity.
         (7.5)  "Shares"   means,   with   respect   to   any
    corporation, capital stock and, with respect to any other
    entity, any equity interest.
         (8)  "Voting shares"  means,  with  respect  to  any
    corporation,  shares  of  any class or series entitled to
    vote generally in the election  of  directors  and,  with
    respect  to  any  entity  that  is not a corporation, any
    equity  interest  entitled  to  vote  generally  in   its
    election of the governing body of the entity.
         (9)  "Owner"  including  the terms "own" and "owned"
    when used with respect to any shares means a person  that
    individually  or with or through any of its affiliates or
    associates:
              (A)  beneficially owns such shares, directly or
         indirectly; or
              (B)  has (i) the right to acquire  such  shares
         (whether  such  right  is exercisable immediately or
         only after the passage  of  time)  pursuant  to  any
         agreement, arrangement or understanding, or upon the
         exercise  of  conversion  rights,  exchange  rights,
         warrants   or   options,   or  otherwise;  provided,
         however, that a person shall not be deemed the owner
         of shares tendered pursuant to a tender or  exchange
         offer  made  by  such person or any of such person's
         affiliates or associates until such tendered  shares
         is  accepted  for  purchase or exchange; or (ii) the
         right to vote such shares pursuant to any agreement,
         arrangement  or  understanding;  provided,  however,
         that a person shall not be deemed the owner  of  any
         shares  because  of such person's right to vote such
         shares   if   the    agreement,    arrangement    or
         understanding to vote such shares arises solely from
         a  revocable proxy or consent given in response to a
         proxy or consent solicitation made  to  10  or  more
         persons; or
              (C)  has    any   agreement,   arrangement   or
         understanding for the purpose of acquiring, holding,
         voting (except voting pursuant to a revocable  proxy
         or   consent   as   described   in  clause  (ii)  of
         subparagraph (B) of this paragraph), or disposing of
         such shares with any other person that  beneficially
         owns, or whose affiliates or associates beneficially
         own, directly or indirectly, such shares.
    (d)  No  provision  of  a certificate of incorporation or
by-law shall require, for any vote of  shareholders  required
by  this  Section  a  greater  vote of shareholders than that
specified in this Section.
    (e)  The provisions of this Section 11.75  are  severable
and any provision held invalid shall not affect or impair any
of the remaining provisions of this Section.
(Source: P.A. 90-461, eff. 1-1-98.)

    (805 ILCS 5/12.35) (from Ch. 32, par. 12.35)
    Sec. 12.35.  Grounds for administrative dissolution.  The
Secretary    of    State   may   dissolve   any   corporation
administratively if:
    (a)  It has failed to file its  annual  report  or  final
transition  annual  report  and  pay  its  franchise  tax  as
required  by this Act before the first day of the anniversary
month or, in the case of a corporation which has  established
an  extended  filing  month, the extended filing month of the
corporation of the year in which such annual  report  becomes
due and such franchise tax becomes payable;
    (b)  it has failed to file in the office of the Secretary
of  State  any  report  after  the  expiration  of the period
prescribed in this Act for filing such report;
    (c)  it has failed to pay any fees, franchise  taxes,  or
charges prescribed by this Act;
    (d)  it  has  misrepresented  any  material matter in any
application, report, affidavit, or other  document  filed  by
the corporation pursuant to this Act; or
    (e)  it  has  failed to appoint and maintain a registered
agent in this State;.
    (f)  it has tendered payment to the  Secretary  of  State
which  is  returned  due  to  insufficient  funds,  a  closed
account,  or for any other reason, and acceptable payment has
not been subsequently tendered;
    (g)  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;
or
    (h)  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 not paid.
(Source: P.A. 92-33, eff. 7-1-01.)

    (805 ILCS 5/12.40) (from Ch. 32, par. 12.40)
    Sec. 12.40.  Procedure  for  administrative  dissolution.
(a)  After the Secretary of State determines that one or more
grounds exist under  Section  12.35  for  the  administrative
dissolution of a corporation, he or she shall send by regular
mail  to  each delinquent corporation a Notice of Delinquency
to its registered office, or, if the corporation  has  failed
to  maintain  a  registered  office, then to the president or
other principal officer at the  last  known  office  of  said
officer.
    (b)  If  the  corporation  does  not  correct the default
described in paragraphs (a)  through  (e)  of  Section  12.35
within  90 days following such notice, the Secretary of State
shall  thereupon  dissolve  the  corporation  by  issuing   a



certificate of dissolution that recites the ground or grounds
for  dissolution  and  its effective date. If the corporation
does not correct the  default  described  in  paragraphs  (f)
through  (h)  of Section 12.35, within 30 days following such
notice, the Secretary of State shall thereupon  dissolve  the
corporation by issuing a certificate of dissolution as herein
prescribed. The Secretary of State shall file the original of
the  certificate  in  his or her office, mail one copy to the
corporation at its registered office or, if  the  corporation
has  failed  to  maintain  a  registered  office, then to the
president or other principal officer at the last known office
of said officer, and file one copy for record in  the  office
of  the recorder of the county in which the registered office
of the corporation in this State is situated, to be  recorded
by  such  recorder.  The recorder shall submit for payment to
the Secretary of State, on a quarterly basis, the  amount  of
filing fees incurred.
    (c)  The  administrative  dissolution  of  a  corporation
terminates  its  corporate  existence  and  such  a dissolved
corporation shall  not  thereafter  carry  on  any  business,
provided  however, that such a dissolved corporation may take
all action authorized under Section  12.75  or  necessary  to
wind  up and liquidate its business and affairs under Section
12.30.
(Source: P.A. 84-924.)

    (805 ILCS 5/13.40) (from Ch. 32, par. 13.40)
    Sec. 13.40.  Amended certificate of authority. A  foreign
corporation  authorized  to  transact  business in this State
shall secure amended authority to  do  so  in  the  event  it
changes  its  corporate  name,  changes  the  duration of its
corporate existence, or desires to pursue in this State other
or additional purposes than those  set  forth  in  its  prior
application  for authority, by making application therefor to
the Secretary of State.
    The application shall set forth:
         (1)  The name of the corporation, with any additions
    required in order to comply with  Section  4.05  of  this
    Act, together with the state or country under the laws of
    which it is organized.
         (2)  The change to be effected.
(Source: P.A. 92-33, eff. 7-1-01.)

    (805 ILCS 5/13.45) (from Ch. 32, par. 13.45)
    Sec.   13.45.  Withdrawal   of  foreign  corporation.   A
foreign corporation authorized to transact business  in  this
State  may  withdraw  from  this  State  upon filing with the
Secretary of State an application for withdrawal.   In  order
to  procure  such  withdrawal,  the foreign corporation shall
either:
         (a)  execute and file in  duplicate,  in  accordance
    with  Section  1.10  of  this  Act,  an  application  for
    withdrawal and a final report, which shall set forth:
              (1)  that  no  proportion  of its issued shares
         is, on the date of the application,  represented  by
         business  transacted  or  property  located  in this
         State;
              (2)  that  it  surrenders  its   authority   to
         transact business in this State;
              (3)  that  it  revokes  the  authority  of  its
         registered  agent in this State to accept service of
         process and consents that service of process in  any
         suit,  action, or proceeding based upon any cause of
         action arising in this State  during  the  time  the
         corporation  was  licensed  to  transact business in
         this State may thereafter be made on the corporation
         by service on the Secretary of State;
              (4)  a post-office  address  to  which  may  be
         mailed a copy of any process against the corporation
         that may be served on the Secretary of State;
              (5)  the  name of the corporation and the state
         or country under the laws of which it is organized;
              (6)  a statement of  the  aggregate  number  of
         issued   shares   of  the  corporation  itemized  by
         classes, and series, if any, within a class,  as  of
         the date of the final report;
              (7)  a  statement  of  the  amount  of  paid-in
         capital  of  the  corporation  as of the date of the
         final report; and
              (8)  such  additional  information  as  may  be
         necessary or appropriate  in  order  to  enable  the
         Secretary  of  State  to  determine  and  assess any
         unpaid  fees  or  franchise  taxes  payable  by  the
         foreign corporation as prescribed in this Act; or
         (b)  if it has been dissolved, file a  copy  of  the
    articles  of dissolution duly authenticated by the proper
    officer of the state or country under the laws  of  which
    the corporation was organized; or.
         (c)  if  it has been the non-survivor of a statutory
    merger  and  the  surviving  corporation  was  a  foreign
    corporation which had not obtained authority to  transact
    business  in  this  State, file a copy of the articles of
    merger duly authenticated by the proper  officer  of  the
    state  or country under the laws of which the corporation
    was organized.
    The application for withdrawal and the final report shall
be made on forms prescribed and furnished by the Secretary of
State.
    When the corporation has complied with subsection (a)  of
this   Section,   the  Secretary  of  State  shall  file  the
application for withdrawal and mail a copy of the application
to the corporation or its representative.  If the  provisions
of  subsection  (b)  of  this Section have been followed, the
Secretary of State shall file the copy  of  the  articles  of
dissolution in his or her office.
    Upon the filing of the application for withdrawal or copy
of   the  articles  of  dissolution,  the  authority  of  the
corporation to transact business in this State shall cease.
(Source: P.A.  91-464,  eff.  1-1-00;  92-16,  eff.  6-28-01;
92-33, eff. 7-1-01.)

    (805 ILCS 5/13.50) (from Ch. 32, par. 13.50)
    Sec.  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 not paid.
    (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.
    (f)  Upon  the  failure  of  the  corporation to file for
record in the office of the recorder of the county  in  which
its   registered  office  is  situated,  any  appointment  of
registered agent.
    (g)  Upon the failure of  the  corporation  to  file  any
report after the period prescribed by this Act for the filing
of such report.
    (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 acceptable payment
has not been subsequently tendered.
(Source: P.A. 92-33, eff. 7-1-01.)

    (805 ILCS 5/13.55) (from Ch. 32, par. 13.55)
    Sec. 13.55.  Procedure for revocation of authority.
    (a)  After the Secretary of State determines that one  or
more  grounds exist under Section 13.50 for the revocation of
authority of a foreign corporation, he or she shall  send  by
regular  mail  to  each  delinquent  corporation  a Notice of
Delinquency to its registered office, or, if the  corporation
has  failed  to  maintain  a  registered  office, then to the
president or other principal officer at the last known office
of said officer.
    (b)  If the corporation  does  not  correct  the  default
described  in  paragraphs  (c)  through  (k) of Section 13.50
within 90 days following such notice, the Secretary of  State
shall  thereupon  revoke  the authority of the corporation by
issuing a certificate of revocation that recites the  grounds
for  revocation  and  its  effective date. If the corporation
does not correct the default described in paragraph (a), (b),
or (l) of  Section  13.50,  within  30  days  following  such
notice,  the  Secretary  of  State shall thereupon revoke the
authority of the corporation  by  issuing  a  certificate  of
revocation as herein prescribed. The Secretary of State shall
file  the  original  of the certificate in his or her office,
mail one copy to the corporation  at  its  registered  office
or,  if  the  corporation has failed to maintain a registered
office, then to the president or other principal  officer  at
the  last known office of said officer, and file one copy for
record in the office of the recorder of the county  in  which
the  registered  office  of  the corporation in this State is
situated, to be recorded by such recorder. The recorder shall
submit for payment to the Secretary of State, on a  quarterly
basis, the amount of filing fees incurred.
    (c)  Upon  the issuance of the certificate of revocation,
the authority of the corporation to transact business in this
State shall cease and  such  revoked  corporation  shall  not
thereafter carry on any business in this State.
(Source: P.A. 92-33, eff. 7-1-01.)

    (805 ILCS 5/13.75)
    Sec.    13.75.  Activities   that   do   not   constitute
transacting business.   Without  excluding  other  activities
that  may  not  constitute  doing  business  in this State, a
foreign corporation shall not be considered to be transacting
business in this State, for purposes of this Article  13,  by
reason  of  carrying  on in this State any one or more of the
following activities:
         (1)  maintaining,   defending,   or   settling   any
    proceeding;
         (2)  holding meetings of the board of  directors  or
    shareholders  or  carrying on other activities concerning
    internal corporate affairs;
         (3)  maintaining bank accounts;
         (4)  maintaining  offices  or   agencies   for   the
    transfer, exchange, and registration of the corporation's
    own  securities  or  maintaining trustees or depositaries
    with respect to those securities;
         (5)  selling through independent contractors;
         (6)  soliciting or obtaining orders, whether by mail
    or through employees or agents or  otherwise,  if  orders
    require  acceptance outside this State before they become
    contracts;
         (7)  (blank)  creating  or  acquiring  indebtedness,
    mortgages, and security interests  in  real  or  personal
    property;
         (8)  (blank)   securing   or   collecting  debts  or
    enforcing mortgages and security  interests  in  property
    securing the debts;
         (9)  owning,   without   more,   real   or  personal
    property;
         (10)  conducting an  isolated  transaction  that  is
    completed  within  120  days  and  that is not one in the
    course of repeated transactions of a like nature; or
         (11)  having a corporate officer or director who  is
    a resident of this State.
(Source: P.A. 90-421, eff. 1-1-98.)

    (805 ILCS 5/14.05) (from Ch. 32, par. 14.05)
    Sec.   14.05.  Annual   report  of  domestic  or  foreign
corporation. Each domestic corporation  organized  under  any
general  law  or  special  act  of this State authorizing the
corporation   to   issue   shares,   other   than   homestead
associations,  building  and  loan  associations,  banks  and
insurance companies (which includes a  syndicate  or  limited
syndicate  regulated  under  Article  V  1/2  of the Illinois
Insurance Code or member of a group of underwriters regulated
under Article V of that Code), and each  foreign  corporation
(except  members  of  a group of underwriters regulated under
Article V of  the  Illinois  Insurance  Code)  authorized  to
transact  business in this State, shall file, within the time
prescribed by this Act, an annual report setting forth:
         (a)  The name of the corporation.
         (b)  The address, including street  and  number,  or
    rural  route  number,  of  its  registered office in this
    State, and the name  of  its  registered  agent  at  that
    address  and  a  statement  of  change  of its registered
    office or registered agent, or both, if any.
         (c)  The address, including street  and  number,  or
    rural route number, of its principal office.
         (d)  The  names  and  respective business addresses,
    including street and number, or rural  route  number,  of
    its directors and officers.
         (e)  A  statement  of the aggregate number of shares
    which the corporation has authority to issue, itemized by
    classes and series, if any, within a class.
         (f)  A statement of the aggregate number  of  issued
    shares, itemized by classes, and series, if any, within a
    class.
         (g)  A  statement,  expressed  in  dollars,  of  the
    amount  of  paid-in capital of the corporation as defined
    in this Act.
         (h)  Either a statement that (1) all the property of
    the corporation is located in this State and all  of  its
    business  is  transacted at or from places of business in
    this State, or the corporation elects to pay  the  annual
    franchise tax on the basis of its entire paid-in capital,
    or (2) a statement, expressed in dollars, of the value of
    all  the  property  owned  by  the  corporation, wherever
    located, and the value of  the  property  located  within
    this State, and a statement, expressed in dollars, of the
    gross  amount  of  business transacted by the corporation
    and  the  gross  amount   thereof   transacted   by   the
    corporation  at  or from places of business in this State
    as of the close of its  fiscal  year  on  or  immediately
    preceding  the  last  day of the third month prior to the
    anniversary month or in the case of a  corporation  which
    has established an extended filing month, as of the close
    of  its  fiscal year on or immediately preceding the last
    day of the third  month  prior  to  the  extended  filing
    month;  however,  in  the  case of a domestic corporation
    that  has  not  completed  its  first  fiscal  year,  the
    statement with respect to property owned shall be  as  of
    the last day of the third month preceding the anniversary
    month   and   the  statement  with  respect  to  business
    transacted shall be furnished for the period between  the
    date of incorporation and the last day of the third month
    preceding  the  anniversary  month.   In  the  case  of a
    foreign corporation  that  has  not  been  authorized  to
    transact business in this State for a period of 12 months
    and  has  not  commenced  transacting  business  prior to
    obtaining  authority,  the  statement  with  respect   to
    property  owned  shall be as of the last day of the third
    month preceding the anniversary month and  the  statement
    with  respect  to  business transacted shall be furnished
    for the period between the date of its  authorization  to
    transact  business  in this State and the last day of the
    third month preceding the anniversary month. If the  data
    referenced   in  item  (2)  of  this  subsection  is  not
    completed, the franchise tax provided  for  in  this  Act
    shall  be  computed  on  the  basis of the entire paid-in
    capital.
         (i)  A statement, including the basis  therefor,  of
    status  as  a  "minority  owned business" or as a "female
    owned  business"  as  those  terms  are  defined  in  the
    Business Enterprise for Minorities, Females, and  Persons
    with Disabilities Act.
         (j)  Additional  information  as may be necessary or
    appropriate in order to enable the Secretary of State  to
    administer  this  Act  and to verify the proper amount of
    fees and franchise taxes payable by the corporation.
    The annual report shall be made on forms  prescribed  and
furnished  by  the  Secretary  of  State, and the information
therein  required  by  paragraphs  (a)  through   (d),   both
inclusive,  of this Section, shall be given as of the date of
the execution  of  the  annual  report  and  the  information
therein  required  by  paragraphs  (e),  (f)  and (g) of this
Section shall be given as of the last day of the third  month
preceding  the anniversary month, except that the information
required by paragraphs (e), (f) and (g) shall, in the case of
a corporation which has established an extended filing month,
be given in its  final  transition  annual  report  and  each
subsequent  annual  report as of the close of its fiscal year
immediately preceding its extended filing month.  It shall be
executed   by   the   corporation   by   its   president,   a
vice-president, secretary, assistant secretary, treasurer  or
other  officer  duly  authorized by the board of directors of
the corporation to execute those reports, and verified by him
or her, or, if the corporation is in the hands of a  receiver
or trustee, it shall be executed on behalf of the corporation
and verified by the receiver or trustee.
(Source:  P.A.  91-593,  eff.  8-14-99;  92-16, eff. 6-28-01;
92-33, eff. 7-1-01.)
    (805 ILCS 5/15.05) (from Ch. 32, par. 15.05)
    Sec. 15.05.  Fees, franchise taxes,  and  charges  to  be
collected by Secretary of State.
    The  Secretary  of  State  shall  charge  and  collect in
accordance with the provisions of this Act:
    (a)  Fees for filing documents and issuing certificates.
    (b)  License fees.
    (c)  Franchise taxes.
    (d)  Miscellaneous charges.
    (e)  Fees for filing annual reports.
(Source: P.A. 83-1025.)

    (805 ILCS 5/15.10) (from Ch. 32, par. 15.10)
    Sec. 15.10.  Fees for filing documents. The Secretary  of
State shall charge and collect for:
    (a)  Filing articles of incorporation, $75.
    (b)  Filing   articles  of  amendment,  $25,  unless  the
amendment is a restatement of the articles of  incorporation,
in which case the fee shall be $100.
    (c)  Filing  articles  of  merger or consolidation, $100,
but if the merger  or  consolidation  involves  more  than  2
corporations, $50 for each additional corporation.
    (d)  Filing articles of share exchange, $100.
    (e)  Filing articles of dissolution, $5.
    (f)  Filing application to reserve a corporate name, $25.
    (g)  Filing  a notice of transfer of a reserved corporate
name, $25.
    (h)  Filing statement of change of address of  registered
office  or change of registered agent, or both, if other than
on an annual report, $5.
    (i)  Filing statement of the establishment of a series of
shares, $25.
    (j)  Filing an application of a foreign  corporation  for
authority to transact business in this State, $75.
    (k)  Filing  an  application of a foreign corporation for
amended authority to transact business in this State, $25.
    (l)  Filing a  copy  of  amendment  to  the  articles  of
incorporation  of  a foreign corporation holding authority to
transact business in this State, $25, unless the amendment is
a restatement of the articles of incorporation, in which case
the fee shall be $100.
    (m)  Filing a copy of articles of  merger  of  a  foreign
corporation  holding  a  certificate of authority to transact
business in this State, $100, but if the merger involves more
than 2 corporations, $50 for each additional corporation.
    (n)  Filing  an  application  for  withdrawal  and  final
report or a copy of articles  of  dissolution  of  a  foreign
corporation, $25.
    (o)  Filing  an  annual report, interim annual report, or
final transition annual  report  of  a  domestic  or  foreign
corporation, $25.
    (p)  Filing   an   application  for  reinstatement  of  a
domestic or a foreign corporation, $100.
    (q)  Filing  an  application  for  use  of   an   assumed
corporate  name, $150 for each year or part thereof ending in
0 or 5, $120 for each year or part thereof ending in 1 or  6,
$90  for  each year or part thereof ending in 2 or 7, $60 for
each year or part thereof ending in 3 or 8, $30 for each year
or part thereof ending in 4 or 9, between the date of  filing
the  application  and  the date of the renewal of the assumed
corporate name; and a renewal fee for each assumed  corporate
name, $150.
    (r)  To  change  an assumed corporate name for the period
remaining until the renewal  date  of  the  original  assumed
name, $25.
    (s)  Filing an application for cancellation of an assumed
corporate name, $5.
    (t)  Filing an application to register the corporate name

of  a foreign corporation, $50; and an annual renewal fee for
the registered name, $50.
    (u)  Filing  an  application  for   cancellation   of   a
registered name of a foreign corporation, $25.
    (v)  Filing a statement of correction, $25.
    (w)  Filing a petition for refund or adjustment, $5.
    (x)  Filing a statement of election of an extended filing
month, $25.
    (y)  Filing any other statement or report, $5.
(Source: P.A. 92-33, eff. 7-1-01.)

    (805 ILCS 5/15.80) (from Ch. 32, par. 15.80)
    Sec.   15.80.  Computation   and   collection  of  annual
franchise taxes - proceeding for dissolution or revocation if
not paid.
    (a)  It shall be the duty of the Secretary  of  State  to
collect  all  annual  franchise  taxes,  and  penalties,  and
interest imposed by or payable in accordance with this Act.
    (b)  During the calendar year 1983, each corporation must
pay its annual franchise tax within 60 days preceding July 1,
1983,  for  the  taxable  year beginning July 1, 1983 to each
corporation's anniversary month in 1984;  thereafter,  within
60  days  prior to the first day of the anniversary month or,
in cases where a  corporation  has  established  an  extended
filing  month,  the  extended  filing  month  each  year  the
Secretary  of  State  shall  collect  from  each corporation,
domestic or foreign, required to file  an  annual  report  in
such year, the franchise tax payable by it for the 12 months'
period  commencing  on the first day of the anniversary month
or, in cases where a corporation has established an  extended
filing  month,  the extended filing month of such year or, in
the case of a corporation which  has  filed  a  statement  of
election  of  an  extended  filing  date,  the interim period
resulting  therefrom  in  accordance   with   the   foregoing
provisions;  and,  if it has failed to file its annual report
and pay its franchise tax within the time prescribed by  this
Act,  the  penalties and interest will be imposed pursuant to
this Act upon such corporation for its failure so to do;  and
the  Secretary  of  State shall mail a written notice to each
corporation against which such tax is payable,  addressed  to
such  corporation  at  its  registered  office in this State,
notifying the corporation: (1) of the amount of franchise tax
payable for the taxable year and the amount of penalties  and
interest  due  for  failure to file its annual report and pay
its franchise tax; and (2) that such tax  and  penalties  and
interest  shall be payable to the Secretary of State. Failure
to receive such notice shall not relieve the  corporation  of
its  obligation  to  pay  the  tax  and any penalties and any
interest due or invalidate the validity thereof.
    (c)  All annual franchise  taxes  for  the  taxable  year
commencing  on  July 1, 1983 to the anniversary month of each
corporation in 1984 shall be due and payable by July 1, 1983.
Beginning with January 1984, all annual  reports,  fees,  and
franchise  taxes  shall be due and payable prior to the first
day of the anniversary month or, in the case of a corporation
which has established an extended filing month subsequent  to
January   1,   1991,   the  extended  filing  month  of  each
corporation each year. If the annual franchise tax  due  from
any  corporation  subject  to  the  provisions  of  this  Act
together  with  all  penalties  and interest imposed thereon,
shall not be paid to the Secretary of State before  the  date
of  the  year  in  which  such  tax  is  due and payable, the
Secretary of State shall proceed under Section 12.40 of  this
Act  for  the  dissolution of a domestic corporation or under
Section 13.55 for revocation of a foreign corporation.
    (d)  For the purpose of enforcing collection, all  annual
franchise  taxes payable in accordance with this Act, and all
penalties due thereon and all interest and costs  that  shall
accrue  in connection with the collection thereof, shall be a
prior and first lien on the real and personal property of the
corporation from and including the date of the year when such
franchise taxes become due  and  payable  until  such  taxes,
penalties, interest, and costs shall have been paid.
(Source: P.A. 91-464, eff. 1-1-00.)

    (805 ILCS 5/15.95) (from Ch. 32, par. 15.95)
    Sec.  15.95.  Department  of  Business  Services  Special
Operations Fund.
    (a)  A  special  fund  in the State treasury known as the
Division of Corporations Special Operations Fund  is  renamed
the  Department of Business Services Special Operations Fund.
Moneys  deposited   into   the   Fund   shall,   subject   to
appropriation, be used by the Department of Business Services
of   the  Office  of  the  Secretary  of  State,  hereinafter
"Department",  to  create  and  maintain  the  capability  to
perform expedited services in response  to  special  requests
made  by  the public for same day or 24 hour service.  Moneys
deposited into the Fund shall be used for,  but  not  limited
to,  expenditures  for  personal services, retirement, social
security, contractual services,  equipment,  electronic  data
processing, and telecommunications.
    (b)  The  balance  in  the  Fund at the end of any fiscal
year shall not exceed  $400,000  and  any  amount  in  excess
thereof shall be transferred to the General Revenue Fund.
    (c)  All  fees  payable  to  the Secretary of State under
this Section shall be deposited into the Fund.  No other fees
or taxes collected under this Act shall be deposited into the
Fund.
    (d)  "Expedited services" means services rendered  within
the  same  day, or within 24 hours from the time, the request
therefor  is  submitted  by  the  filer,  law  firm,  service
company,  or  messenger  physically  in  person  or,  at  the
Secretary of State's discretion, by electronic means, to  the
Department's  Springfield  Office  and  includes requests for
certified  copies,  photocopies,  and  certificates  of  good
standing or fact made to the Department's Springfield  Office
in  person  or  by telephone, or requests for certificates of
good standing or fact made in person or by telephone  to  the
Department's Chicago Office.
    (e)  Fees for expedited services shall be as follows:
    Restatement of articles, $100;
    Merger, consolidation or exchange, $100;
    Articles of incorporation, $50;
    Articles of amendment, $50;
    Revocation of dissolution, $50;
    Reinstatement, $50;
    Application for authority, $50;
    Cumulative  report of changes in issued shares or paid-in
capital, $50;
    Report following merger or consolidation, $50;
    Certificate of good standing or fact, $10;
    All other filings, copies of  documents,  annual  reports
filed  on or after January 1, 1984 for the 3 preceding years,
and copies of documents of dissolved or revoked  corporations
having a file number over 5199, $25.
    (f)  Expedited  services  shall  not  be  available for a
statement of correction, a petition for refund or adjustment,
or a request involving more  than  3  year's  annual  reports
filed   before   January   1,  1984  or  involving  dissolved
corporations with a file number below 5200.
(Source: P.A. 91-463, eff. 1-1-00; 92-33, eff. 7-1-01.)

    (805 ILCS 5/15.97) (from Ch. 32, par. 15.97)
    Sec. 15.97.  Corporate Franchise Tax Refund Fund.
    (a)  Beginning July 1, 1993, a percentage of the  amounts
collected  under  Sections  15.35, 15.45, 15.65, and 15.75 of
this Act shall be deposited into the Corporate Franchise  Tax
Refund  Fund,  a  special  Fund  hereby  created in the State
treasury.  From July 1, 1993, until December 31, 1994,  there
shall  be  deposited into the Fund 3% of the amounts received
under those Sections.  Beginning January  1,  1995,  and  for
each  fiscal  year  beginning  thereafter,  2% of the amounts
collected under those Sections during  the  preceding  fiscal
year shall be deposited into the Fund.
    (b)  Beginning  July 1, 1993, moneys in the Fund shall be
expended  exclusively  for  the  purpose  of  paying  refunds
payable because of overpayment of franchise taxes, penalties,
or interest under Sections 13.70, 15.35,  15.45,  15.65,  and
15.75,  and 16.05 of this Act and making transfers authorized
under  this  Section.   Refunds  in   accordance   with   the
provisions  of  subsections  (f)  and (g) of Section 1.15 and
Section 1.17 of this Act may be made from the  Fund  only  to
the  extent  that  amounts  collected  under  Sections 15.35,
15.45, 15.65, and 15.75 of this Act have  been  deposited  in
the  Fund  and  remain  available.   Within a reasonable time
after the 30th day of June of each  year,  the  Secretary  of
State   shall   direct   and   the  Comptroller  shall  order
transferred to the General Revenue Fund all amounts in excess
of $100,000 remaining in the fund as of June 30.
    (c)  This  Act  shall  constitute  an   irrevocable   and
continuing  appropriation  from  the  Corporate Franchise Tax
Refund Fund for the purpose of paying refunds upon the  order
of  the  Secretary of State in accordance with the provisions
of this Section.
(Source: P.A. 89-570, eff. 7-26-96.)

    Section 15.  The General Not For Profit  Corporation  Act
is  amended  by  changing  Sections  101.15,  102.10, 105.20,
111.37, 112.40, 113.40, 113.50, 113.55, 114.05,  115.10,  and
115.20 as follows:
    (805 ILCS 105/101.15) (from Ch. 32, par. 101.15)
    Sec. 101.15.  Statement of correction.
    (a)  Whenever  any instrument authorized to be filed with
the Secretary of State under any provision of  this  Act  has
been  so  filed  and,  as  of  the date of the action therein
referred to, contains any misstatement of fact, typographical
error, error of transcription or any other error  or  defect,
or  was  defectively or erroneously executed, such instrument
may be corrected by filing, in accordance with Section 101.10
of this Act, a statement of correction.
    (b)  A statement of correction shall set forth:
         (1)  The  name  or  names  of  the  corporation   or
    corporations  and  the State or country under the laws of
    which each is organized.
         (2)  The title of the instrument being corrected and
    the date it was filed by the Secretary of State.
         (3)  The inaccuracy, error or defect to be corrected
    and the portion of the instrument in corrected form.
    (c)  A statement of correction shall be executed  in  the
same  manner  in  which  the  instrument  being corrected was
required to be executed.
    (d)  The corrected instrument shall be  effective  as  of
the date the original instrument was filed.
    (e)  A statement of correction shall not:
         (1)  Effect  any  change  or  amendment  of articles
    which would not in all respects have  complied  with  the
    requirements of this Act;
         (2)  Take  the  place  of any document, statement or
    report otherwise required to be filed by this Act;
         (3)  Affect  any  right  or  liability  accrued   or
    incurred  before  such  filing,  except that any right or
    liability accrued or incurred by reason of the  error  or
    defect  being  corrected  shall  be  extinguished by such
    filing  if  the  person  having  such   right   has   not
    detrimentally relied on the original instrument;
         (4)  Alter   the   provisions  of  the  articles  of
    incorporation with respect to  the  corporation  name  or
    purpose  or  the names and addresses of the incorporators
    or initial directors;
         (5)  Alter the provisions  of  the  application  for
    certificate  of  authority  of a foreign corporation with
    respect to the corporation name;
         (6)  Alter the  provisions  of  the  application  to
    adopt or change an assumed corporate name with respect to
    the assumed corporate name; or
         (7)  Alter  the  wording of any resolution which was
    in fact adopted by the  board  of  directors  or  by  the
    members entitled to vote.
(Source: P.A. 91-527, eff. 1-1-00.)

    (805 ILCS 105/102.10) (from Ch. 32, par. 102.10)
    Sec. 102.10.  Articles of Incorporation.  The articles of
incorporation  shall  be  executed  and filed in duplicate in
accordance with Section 101.10 of this Act.
    (a)  The articles of incorporation must set forth:
         (1)  A  corporate  name  for  the  corporation  that
    satisfies the requirements of this Act;
         (2)  The specific purpose or purposes for which  the
    corporation   is   organized,  from  among  the  purposes
    authorized in Section 103.05 of this Act;
         (3)  The  address  of  the   corporation's   initial
    registered  office and the name of its initial registered
    agent at that office;
         (4)  The name and address of each incorporator;
         (5)  The number of directors constituting the  first
    board  of  directors  and  the names and the addresses of
    each such director;
         (6)  With respect to any organization a  purpose  of
    which  is  to  function  as a club, as defined in Section
    1-3.24 of "The Liquor Control Act of  1934",  as  now  or
    hereafter  amended,  a statement that it will comply with
    the State and  local  laws  and  ordinances  relating  to
    alcoholic liquors;
         (7)  Whether   the   corporation  is  a  condominium
    association as established under the Condominium Property
    Act, a cooperative housing corporation defined in Section
    216 of the Internal Revenue Code of 1954 or  a  homeowner
    association which administers a common-interest community
    as defined in subsection (c) of Section 9-102 of the Code
    of Civil Procedure.
    (b)  The articles of incorporation may set forth:
         (1)  Provisions   not  inconsistent  with  law  with
    respect to:
              (i)  Managing and regulating the affairs of the
         corporation,    including    any    provision    for
         distribution of assets on final dissolution;
              (ii)  Providing that the corporation shall have
         no members, or shall have one  or  more  classes  of
         members;
              (iii)  Limiting, enlarging or denying the right
         of  the  members of any class or classes of members,
         to vote;
              (iv)  Defining, limiting,  and  regulating  the
         rights,  powers  and  duties of the corporation, its
         officers, directors and members; or
              (v)  Superseding any provision of this Act that
         requires  for  approval  of  corporation  action   a
         two-thirds  vote  of  members  or  class  of members
         entitled to vote by specifying any smaller or larger
         vote requirement not less than  a  majority  of  the
         votes  which  members  entitled  to vote on a matter
         shall vote, either in  person  or  by  proxy,  at  a
         meeting at which there is a quorum.
         (2)  Any  provision  that under this Act is required
    or  permitted  to  be  set  forth  in  the  articles   of
    incorporation or bylaws.
    (c)  The articles of incorporation need not set forth any
of the corporate powers enumerated in this Act.
    (d)  The  duration  of  a corporation is perpetual unless
otherwise specified in the articles of incorporation.
    (e)  When  the  provisions  of  this  Section  have  been
complied with, the Secretary of State shall file the articles
of incorporation.
(Source: P.A. 92-33, eff. 7-1-01.)

    (805 ILCS 105/105.20) (from Ch. 32, par. 105.20)
    Sec. 105.20.  Change of Address of Registered Agent.
    (a)  A registered agent may change  the  address  of  the
registered  office  of  the  domestic  corporation  or of the
foreign corporation, for which he or she or it is  registered
agent,  to another address in this State, by so indicating in
the  statement  of  change  on  the  annual  report  of   the
corporation  filed  under  Section  114.10  of this Act or by
filing, in duplicate, in accordance with  Section  101.10  of
this Act a statement setting forth:
         (1)  the name of the corporation;
         (2)  the  address,  including  street and number, or
    rural route number, of its then registered office;
         (3)  the address, including street  and  number,  or
    rural  route number, to which the registered office is to
    be changed;
         (4)  the name of its registered agent;
         (5)  that the address of its registered  office  and
    the  address  of  the  business  office of its registered
    agent, as changed, will be identical.
    (b)  Such statement shall be executed by  the  registered
agent.
    (c)  The change of address of the registered office shall
become  effective  upon  the  filing of such statement by the
Secretary of State.
(Source: P.A. 92-33, eff. 7-1-01.)

    (805 ILCS 105/111.37) (from Ch. 32, par. 111.37)
    Sec.  111.37.  Merger  or   consolidation   of   domestic
corporations and domestic or foreign corporations for profit.
(a)  One  or  more  domestic  corporations  and  one  or more
domestic or foreign corporations for profit  may  merge  into
one  of  such domestic corporations or consolidate into a new
domestic  corporation,   provided   that   such   merger   or
consolidation  is  permitted  by  the  laws  of  the state or
country under which each such foreign corporation for  profit
is organized.
    (b)  Each  domestic  corporation  shall  comply  with the
provisions  of  this  Act  with  respect  to  the  merger  or
consolidation  of  domestic   corporations,   each   domestic
corporation  for  profit  shall comply with the provisions of
the Business  Corporation  Act  of  1983,  as  amended,  with
respect  to  merger or consolidation of domestic corporations
for profit, each foreign corporation for profit shall  comply
with  the  laws  of  the  State  or country under which it is
organized, and each foreign corporation for profit  having  a
certificate  of  authority to transact business in this State
under the provisions of the Business Corporation Act of 1983,
as amended, shall comply with the provisions of such Act with
respect to merger or consolidation  of  foreign  corporations
for profit.
    (c)  The plan of merger or consolidation shall set forth,
in addition to all matters required by Section 111.05 of this
Act,  the  manner  and  basis  of  converting  shares of each
merging or consolidating domestic or foreign corporation  for
profit into membership or other interests of the surviving or
new  domestic corporation, or into cash, or into property, or
into any combination of the foregoing.
    (d)  The effect of a merger or consolidation  under  this
Section  shall  be  the  same  as  in the case of a merger or
consolidation of domestic corporations.
(Source: P.A. 84-1423.)

    (805 ILCS 105/112.40) (from Ch. 32, par. 112.40)
    Sec. 112.40.  Procedure for  administrative  dissolution.
(a)  After the Secretary of State determines that one or more
grounds  exist  under  Section  112.35  of  this  Act for the
administrative dissolution of a corporation, he or she  shall
send  by regular mail to each delinquent corporation a Notice
of  Delinquency  to  its  registered  office,  or,   if   the
corporation  has failed to maintain a registered office, then
to the president or other principal officer at the last known
office of said officer.
    (b)  If the corporation  does  not  correct  the  default
within  90 days following such notice, the Secretary of State
shall  thereupon  dissolve  the  corporation  by  issuing   a
certificate of dissolution that recites the ground or grounds
for  dissolution  and  its  effective date.  The Secretary of
State shall file the original of the certificate  in  his  or
her   office,  mail  one  copy  to  the  corporation  at  its
registered office  or,  if  the  corporation  has  failed  to
maintain  a registered office, then to the president or other
principal officer at the last known office of  said  officer,
and file one copy for record in the office of the Recorder of
the  county in which the registered office of the corporation
in this State is situated, to be recorded by  such  Recorder.
The  Recorder shall submit for payment, on a quarterly basis,
to the Secretary of State the amount of filing fees incurred.
    (c)  The  administrative  dissolution  of  a  corporation
terminates its  corporate  existence  and  such  a  dissolved
corporation  shall  not  thereafter  carry  on  any  affairs,
provided  however, that such a dissolved corporation may take
all action authorized under Section 112.75  of  this  Act  or
necessary  to wind up and liquidate its affairs under Section
112.30 of this Act.
(Source: P.A. 84-1423.)

    (805 ILCS 105/113.40) (from Ch. 32, par. 113.40)
    Sec.  113.40.  Amended  certificate  of   authority.    A
foreign  corporation  authorized  to  conduct affairs in this
State shall secure an amended authority to do so in the event
it changes its corporate name, changes the  duration  of  its
corporate existence, or desires to pursue in this State other
or  additional  purposes  than  those  set forth in its prior
application for  authority,  by  making  application  to  the
Secretary of State.
    The application shall set forth:
         (1)  The name of the corporation, with any additions
    required  in  order to comply with Section 104.05 of this
    Act, together with the state or country under the laws of
    which it is organized.
         (2)  The change to be effected.
(Source: P.A. 92-33, eff. 7-1-01.)

    (805 ILCS 105/113.50) (from Ch. 32, par. 113.50)
    Sec. 113.50.  Grounds for revocation  of  certificate  of
authority.
    (a)  The  authority  of  a foreign corporation to conduct
affairs in this State may be  revoked  by  the  Secretary  of
State:
         (1)  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;
         (2)  If   the   certificate   of  authority  of  the
    corporation was procured through fraud practiced upon the
    State;
         (3)  If the corporation has continued to  exceed  or
    abuse the authority conferred upon it by this Act;
         (4)  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 or
    incorporation;
         (5)  Upon  the failure of the corporation to appoint
    and maintain a registered agent in this State;
         (6)  Upon the failure of the corporation to file any
    report after the period prescribed by this  Act  for  the
    filing of such report;
         (7)  Upon  the failure of the corporation to pay any
    fees or charges prescribed by this Act;
         (8)  For misrepresentation of any material matter in
    any application, report,  affidavit,  or  other  document
    filed by such corporation pursuant to this Act;
         (9)  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 conduct affairs  within  this  State
    under  its assumed name in accordance with the provisions
    of Section 104.05 of this Act;
         (10)  Upon  notification  from  the   local   liquor
    commissioner,  pursuant  to Section 4-4(3) of "The Liquor
    Control Act of 1934," as now or hereafter amended, that a
    foreign corporation functioning as a club in  this  State
    has  violated that Act by selling or offering for sale at
    retail alcoholic liquors without a retailer's license; or
         (11)  When, in an action by  the  Attorney  General,
    under the provisions of the "Consumer Fraud and Deceptive
    Business   Practices   Act",   or  "An  Act  to  regulate
    solicitation  and  collection  of  funds  for  charitable
    purposes, providing for violations thereof, and making an
    appropriation  therefor",  approved  July  26,  1963,  as
    amended, or the "Charitable Trust Act", a court has found
    that the corporation substantially and willfully violated
    any of such Acts.
    (b)  The  enumeration  of  grounds  for   revocation   in
paragraphs  (1)  through  (11)  of  subsection  (a) shall not
preclude  any  action  by  the  Attorney  General  which   is
authorized  by  any other statute of the State of Illinois or
the common law.
(Source: P.A. 92-33, eff. 7-1-01.)

    (805 ILCS 105/113.55) (from Ch. 32, par. 113.55)
    Sec. 113.55.  Procedure for revocation of certificate  of
authority.
    (a)  After  the Secretary of State determines that one or
more grounds exist under Section 113.50 of this Act  for  the
revocation  of  authority of a foreign corporation, he or she
shall send by regular mail to each delinquent  corporation  a
Notice  of  Delinquency  to its registered office, or, if the
corporation has failed to maintain a registered office,  then
to the president or other principal officer at the last known
office of said officer.
    (b)  If  the  corporation  does  not  correct the default
within 90 days following such notice, the Secretary of  State
shall  thereupon  revoke  the certificate of authority of the
corporation by  issuing  a  certificate  of  revocation  that
recites  the  grounds  for revocation and its effective date.
The Secretary  of  State  shall  file  the  original  of  the
certificate  in  his  or  her  office,  mail  one copy to the
corporation at its registered office or, if  the  corporation
has  failed  to  maintain  a  registered  office, then to the
president or other principal officer at the last known office
of said officer, and file one copy for record in  the  office
of  the Recorder of the county in which the registered office
of the corporation in this State is situated, to be  recorded
by such Recorder. The Recorder shall submit for payment, on a
quarterly  basis,  to  the  Secretary  of State the amount of
filing fees incurred.
    (c)  Upon the issuance of the certificate of  revocation,
the  authority  of the corporation to conduct affairs in this
State shall cease and  such  revoked  corporation  shall  not
thereafter conduct any affairs in this State.
(Source: P.A. 92-33, eff. 7-1-01.)

    (805 ILCS 105/114.05) (from Ch. 32, par. 114.05)
    Sec.   114.05.  Annual  report  of  domestic  or  foreign
corporation.  Each domestic corporation organized under  this
Act,  and  each  foreign  corporation  authorized  to conduct
affairs in this State, shall file, within the time prescribed
by this Act, an annual report setting forth:
    (a)  The name of the corporation.
    (b)  The address, including street and number,  or  rural
route number, of its registered office in this State, and the
name  of its registered agent at such address and a statement
of change of its registered office or  registered  agent,  or
both, if any.
    (c)  The address, including street and number, if any, of
its principal office.
    (d)  The   names   and   respective  business  addresses,
including street and number, or rural route  number,  of  its
directors and officers.
    (e)  A  brief  statement  of the character of the affairs
which the corporation is actually conducting from  among  the
purposes authorized in Section 103.05 of this Act.
    (f)  Whether the corporation is a Condominium Association
as   established   under  the  Condominium  Property  Act,  a
Cooperative Housing Corporation defined in Section 216 of the
Internal Revenue Code of  1954  or  a  Homeowner  Association
which  administers  a common-interest community as defined in
subsection  (c)  of  Section  9-102  of  the  Code  of  Civil
Procedure.
    (g)  Such additional information as may be  necessary  or
appropriate  in  order  to  enable  the Secretary of State to
administer this Act and to verify the proper amount  of  fees
payable by the corporation.
    Such  annual report shall be made on forms prescribed and
furnished by the Secretary  of  State,  and  the  information
therein  required  by subsections (a) to (d), both inclusive,
of this Section, shall  be  given  as  of  the  date  of  the
execution  of the annual report.  It shall be executed by the
corporation by any authorized officer and verified by him  or
her,  or, if the corporation is in the hands of a receiver or
trustee, it shall be executed on behalf  of  the  corporation
and verified by such receiver or trustee.
(Source: P.A. 92-33, eff. 7-1-01.)

    (805 ILCS 105/115.10) (from Ch. 32, par. 115.10)
    Sec.  115.10.  Fees  for  filing  documents  and  issuing
certificates. The Secretary of State shall charge and collect
for:
    (a)  Filing articles of incorporation, $50.
    (b)  Filing   articles  of  amendment,  $25,  unless  the
amendment is a restatement of the articles of  incorporation,
in which case the fee shall be $100.
    (c)  Filing articles of merger or consolidation, $25.
    (d)  Filing articles of dissolution, $5.
    (e)  Filing application to reserve a corporate name, $25.
    (f)  Filing  a  notice  of  transfer or cancellation of a
reserved corporate name, $25.
    (g)  Filing statement of change of address of  registered
office  or change of registered agent, or both, if other than
on an annual report, $5.
    (h)  Filing an application of a foreign  corporation  for
authority to conduct affairs in this State, $50.
    (i)  Filing  an  application of a foreign corporation for
amended authority to conduct affairs in this State, $25.
    (j)  Filing a  copy  of  amendment  to  the  articles  of
incorporation  of  a foreign corporation holding authority to
conduct affairs in this State, $25, unless the amendment is a
restatement of the articles of incorporation, in  which  case
the fee shall be $100.
    (k)  Filing  a  copy  of  articles of merger of a foreign
corporation holding authority  to  conduct  affairs  in  this
State, $25.
    (l)  Filing  an  application  for  withdrawal  and  final
report  or  a  copy  of  articles of dissolution of a foreign
corporation, $5.
    (m)  Filing an annual report of  a  domestic  or  foreign
corporation, $5.
    (n)  Filing   an   application  for  reinstatement  of  a
domestic or a foreign corporation, $25.
    (o)  Filing an  application  for  use  or  change  of  an
assumed  corporate  name,  $150 for each year or part thereof
ending in 0 or 5, $120 for each year or part  thereof  ending
in  1  or 6, $90 for each year or part thereof ending in 2 or
7, $60 for each year or part thereof ending in 3  or  8,  $30
for each year or part thereof ending in 4 or 9, and a renewal
fee for each assumed corporate name, $150.
    (p)  Filing  an application for change or cancellation of
an assumed corporate name, $5.
    (q)  Filing an application to register the corporate name
of a foreign corporation, $50; and an annual renewal fee  for
the registered name, $50.
    (r)  Filing   an   application   for  cancellation  of  a
registered name of a foreign corporation, $5.
    (s)  Filing a statement of correction, $25.
    (t)  Filing an election to accept this Act, $25.
    (u)  Filing any other statement or report, $5.
(Source: P.A. 92-33, eff. 7-1-01; 92-651, eff. 7-11-02.)

    (805 ILCS 105/115.20) (from Ch. 32, par. 115.20)
    Sec. 115.20.  Expedited service fees.
    (a)  The Secretary of State may charge and collect a  fee
for expedited services as follows:
    Certificates of good standing or fact, $10;
    All filings, copies of documents, annual reports filed on
or  after  January  1,  1984 for up to 3 years, and copies of
documents of dissolved corporations having a file number over
5199, $25.
    (b)  Expedited services shall  not  be  available  for  a
statement  of  correction or any request for copies involving
more than 3 year's annual reports  filed  before  January  1,
1984  or  involving dissolved corporations with a file number
below 5200.
    (c)  All moneys collected under  this  Section  shall  be
deposited  into  the  Department of Business Services Special
Operations Fund.  No other fees or taxes collected under this
Act shall be deposited into that Fund.
    (d)  As used in this Section,  "expedited  services"  has
the meaning ascribed thereto in Section 15.95 of the Business
Corporation Act of 1983.
(Source: P.A. 91-463, eff. 1-1-00; 92-33, eff. 7-1-01.)

    Section 20.  The Limited Liability Company Act is amended
by  changing  Sections  1-10,  1-15,  1-20,  1-25, 5-1, 35-3,
35-30, 45-1, 45-35, and 50-10 and adding Sections 5-47, 5-48,
and 45-47 as follows:

    (805 ILCS 180/1-10)
    Sec. 1-10.  Limited liability company name.
    (a)  The name of each limited liability  company  as  set
forth in its articles of organization:
         (1)  shall  contain  the  terms  "limited  liability
    company", "L.L.C.", or "LLC";
         (2)  may  not  contain  a  word  or  phrase,  or  an
    abbreviation  or  derivation thereof, the use of which is
    prohibited or restricted by any  other  statute  of  this
    State unless the restriction has been complied with;
         (3)  shall   consist   of  letters  of  the  English
    alphabet, Arabic or Roman numerals, or symbols capable of
    being readily reproduced by the Office of  the  Secretary
    of State;
         (4)  shall  not  contain any of the following terms:
    "Corporation," "Corp.," "Incorporated,"  "Inc.,"  "Ltd.,"
    "Co.," "Limited Partnership" or "L.P.";
         (5)  shall  be  the  name  under  which  the limited
    liability company transacts business in this State unless
    the limited liability company also  elects  to  adopt  an
    assumed  name or names as provided in this Act; provided,
    however, that the limited liability company may  use  any
    divisional  designation  or  trade name without complying
    with the requirements of this Act, provided  the  limited
    liability company also clearly discloses its name;
         (6)  shall  not  contain  any  word  or  phrase that
    indicates or implies that the limited  liability  company
    is  authorized  or  empowered  to be in the business of a
    corporate fiduciary unless  otherwise  permitted  by  the
    Commissioner of the Office of Banks and Real Estate under
    Section  1-9  of  the  Corporate Fiduciary Act.  The word
    "trust", "trustee", or  "fiduciary"  may  be  used  by  a
    limited  liability  company only if it has first complied
    with Section 1-9 of the Corporate Fiduciary Act; and
         (7)  shall contain the word  "trust",  if  it  is  a
    limited  liability  company  organized for the purpose of
    accepting and executing trusts.
    (b)  Nothing  in  this  Section  or  Section  1-20  shall
abrogate or limit the common law or statutory law  of  unfair
competition  or unfair trade practices, nor derogate from the
common law or principles of equity or the  statutes  of  this
State  or of the United States of America with respect to the
right  to  acquire  and  protect  copyrights,  trade   names,
trademarks,  service marks, service names, or any other right
to the exclusive use of names or symbols.
    (c) (Blank).  The name shall  not  contain  any  word  or
phrase that indicates or implies that it is organized for any
purposes other than those permitted by this Act as limited by
its articles of organization.
    (d)  The  name  shall be distinguishable upon the records
in the Office of the Secretary  of  State  from  all  of  the
following:
         (1)  Any limited liability company that has articles
    of  organization  filed with the Secretary of State under
    Section 5-5.
         (2)  Any foreign limited liability company  admitted
    to transact business in this State.
         (3)  Any  name for which an exclusive right has been
    reserved in the Office of the Secretary  of  State  under
    Section 1-15.
         (4)  Any  assumed  name  that is registered with the
    Secretary of State under Section 1-20.
         (5)  Any corporate name or assumed corporate name of
    a  domestic  or  foreign  corporation  subject   to   the
    provisions  of  Section  4.05 of the Business Corporation
    Act of 1983 or Section 104.05  of  the  General  Not  For
    Profit Corporation Act of 1986.
    (e)  The  provisions  of  subsection  (d) of this Section
shall not apply if the organizer files with the Secretary  of
State  a  certified  copy  of  a  final  decree of a court of
competent jurisdiction establishing the prior  right  of  the
applicant to the use of that name in this State.
    (f)  The  Secretary  of  State  shall determine whether a
name is "distinguishable" from another name for the  purposes
of  this  Act.   Without  excluding  other names that may not
constitute distinguishable names in this State, a name is not
considered distinguishable, for purposes of this Act,  solely
because it contains one or more of the following:
         (1)  The word "limited", "liability" or "company" or
    an abbreviation of one of those words.
         (2)  Articles,      conjunctions,      contractions,
    abbreviations,  or different tenses or number of the same
    word.
(Source: P.A. 92-33, eff. 7-1-01.)

    (805 ILCS 180/1-15)
    Sec. 1-15.  Reservation of name.
    (a)  The exclusive right to the use  of  a  name  may  be
reserved by any of the following:
         (1)  A   person  intending  to  organize  a  limited
    liability company under this Act  which  will  have  that
    name.
         (2)  A  limited  liability  company  or  any foreign
    limited liability company registered in this State  that,
    in either case, intends to adopt that name.
         (3)  Any  foreign  limited  liability company having
    that name and intending to make application for admission
    to transact business in this State.
         (4)  A  person  intending  to  organize  a   foreign
    limited   liability   company   and   intending  to  make
    application for admission to transact  business  in  this
    State and adopt that name.
    (b)  To  reserve  a specified name, a person shall submit
an application to the Secretary of  State  in  the  form  and
manner  the  Secretary  shall designate.  If the Secretary of
State finds that the name is available for use by  a  limited
liability  company  or foreign limited liability company, the
Secretary of State shall reserve the name for  the  exclusive
use  of  the  applicant  for  a  period  of  90 days or until
surrendered by a written cancellation document signed by  the
applicant,  whichever  is  sooner.    The  reservation may be
renewed for additional periods not to exceed 90 days from the
date of the last renewal.  The right to the exclusive use  of
a  reserved  name  may  be transferred to any other person by
delivering to the Office of the Secretary of State  a  notice
of the transfer, executed by the person for whom the name was
reserved   and   specifying  the  name  and  address  of  the
transferee.
(Source: P.A. 87-1062.)

    (805 ILCS 180/1-20)
    Sec. 1-20.  Assumed name.
    (a)  A limited liability company  or  a  foreign  limited
liability  company  admitted  to  transact business or making
application for admission to transact  business  in  Illinois
may  elect  to  adopt  an assumed name that complies with the
requirements of Section 1-10 of this Act except (a)(1)  shall
contain  the  term  "limited liability company", "L.L.C.", or
"LLC".
    (a-5)  As used in this Act, "assumed name" means any name
other than the true limited liability  company  name,  except
that  the  following  do not constitute the use of an assumed
name under this Act:
         (1)  A limited liability company's identification of
    its business with a trademark or service  mark  of  which
    the company is the owner or licensed user.
         (2)  The use of a name of a division, not containing
    the  word  "limited",  "liability",  or  "company"  or an
    abbreviation of one of those  words,  provided  that  the
    limited liability company also clearly discloses its true
    name.
    (b)  Before transacting any business in Illinois under an
assumed  limited liability company name or names, the limited
liability company shall, for each assumed name,  execute  and
file  in  duplicate  an  application setting forth all of the
following:
         (1)  The true limited liability company name.
         (2)  The state or country under the laws of which it
    is organized.
         (3)  That it intends to transact business  under  an
    assumed limited liability company name.
         (4)  The assumed name that it proposes to use.
    (c)  The  right to use an assumed name shall be effective
from the date of filing by the Secretary of State  until  the
first  day  of the anniversary month of the limited liability
company that falls  within  the  next  calendar  year  evenly
divisible  by  5.  However, if an application is filed within
the 2 months immediately preceding the anniversary month of a
limited liability company that falls within a  calendar  year
evenly  divisible  by  5,  the  right to use the assumed name
shall be effective until the first  day  of  the  anniversary
month  of the limited liability company that falls within the
next succeeding calendar year evenly divisible by 5.
    (d)  A limited liability company shall renew the right to
use its assumed name or names, if any,  within  the  60  days
preceding  the  expiration  of  the  right, for a period of 5
years, by making an election to do so at the time  of  filing
its  annual  report  form  and  by  paying the renewal fee as
prescribed by this Act.
    (e)  A  limited  liability  company  or  foreign  limited
liability company may change or cancel  any  or  all  of  its
assumed  names by executing and filing an application setting
forth all of the following:
         (1)  The true limited liability company name.
         (2)  The state or country under the laws of which it
    is organized.
         (3)  That it intends to cease  transacting  business
    under an assumed name by changing or cancelling it.
         (4)  The assumed name to be changed or cancelled.
         (5)  If  the  assumed  name  is  to  be changed, the
    assumed name that the limited liability company  proposes
    to use.
    (f)  Upon  the  filing  of  an  application  to change an
assumed name, the limited liability company  shall  have  the
right  to  use the assumed name for the balance of the period
authorized.
    (g)  The right to use an assumed name shall be  cancelled
by the Secretary of State if any of the following occurs:
         (1)  The limited liability company fails to renew an
    assumed name.
         (2)  The  limited  liability  company  has  filed an
    application to change or cancel the assumed name.
         (3)  A limited liability company has been dissolved.
         (4)  A foreign limited liability company has had its
    admission to do business in Illinois revoked.
    (h)  Any limited liability  company  or  foreign  limited
liability  company  failing  to  pay  the  prescribed fee for
assumed name renewal when due  and  payable  shall  be  given
notice  of  nonpayment  by  the Secretary of State by regular
mail.  If the fee, together with a late fee of $100,  is  not
paid  within 60 days after the notice is mailed, the right to
use the assumed  name  shall  cease.  Any  limited  liability
company  or  foreign  limited liability company that (i) puts
forth any sign or advertisement assuming any name other  than
that  under  which it is organized or otherwise authorized by
law to act or (ii) violates Section 1-27 is guilty of a petty
offense and shall be fined not less than $501  and  not  more
than  $1,000.  A limited liability company or foreign limited
liability company shall be deemed  guilty  of  an  additional
offense  for  each  day  it shall continue to so offend. Each
limited  liability  company  or  foreign  limited   liability
company  that  fails  or refuses (1) to answer truthfully and
fully within the time prescribed by this Act  interrogatories
propounded  by the Secretary of State in accordance with this
Act or (2) to perform any other act required by this  Act  to
be  performed  by  the  limited  liability company or foreign
limited liability company is guilty of a  petty  offense  and
shall be fined not less than $501 and not more than $1,000.
    (i)  A  foreign  limited liability company may not use an
assumed or fictitious name in the conduct of its business  to
intentionally  misrepresent the geographic origin or location
of the company.
(Source: P.A. 91-354, eff. 1-1-00; 91-906, eff. 1-1-01.)

    (805 ILCS 180/1-25)
    Sec. 1-25.   Nature  of  business.  A  limited  liability
company  may  be  formed  for  any lawful purpose or business
except:
         (1)  banking, exclusive of fiduciaries organized for
    the purpose of accepting and executing trusts;
         (2)  insurance unless, for the purpose  of  carrying
    on business as a member of a group including incorporated
    and  individual unincorporated underwriters, the Director
    of Insurance finds that the group meets the  requirements
    of subsection (3) of Section 86 of the Illinois Insurance
    Code  and the limited liability company, if insolvent, is
    subject to liquidation by the Director of Insurance under
    Article XIII of the Illinois Insurance Code;
         (3)  the  practice  of  dentistry  unless  all   the
    members  and  managers are licensed as dentists under the
    Illinois Dental Practice Act; or
         (4)  the  practice  of  medicine  unless   all   the
    managers, if any, are licensed to practice medicine under
    the  Medical  Practice  Act  of  1987  and each member is
    either any of the following conditions apply:
              (A)  the member  or  members  are  licensed  to
         practice  medicine under the Medical Practice Act of
         1987; or
              (B)  the member or  members  are  a  registered
         medical   corporation   or   corporations  organized
         pursuant to the Medical Corporation Act; or
              (C)  the member or members are  a  professional
         corporation  organized  pursuant to the Professional
         Service Corporation Act of  physicians  licensed  to
         practice medicine in all its branches; or
              (D)  the   member  or  members  are  a  medical
         limited  liability  company   that   satisfies   the
         requirements  of  subparagraph  (A),  (B), or (C) or
         companies.
(Source: P.A. 91-593, eff. 8-14-99; 92-144, eff. 7-24-01.)

    (805 ILCS 180/5-1)
    Sec. 5-1.  Organization.
    (a)  One or more  persons,  other  than  natural  persons
under  18  years  of  age,  may  organize a limited liability
company by executing and delivering articles of  organization
to  the  Secretary  of State as specified in Sections 5-5 and
5-45.  The organizers need not  be  members  of  the  limited
liability  company.   Each  organizer  of a limited liability
company organized to engage in the practice of medicine shall
be a licensed physician of this State or an attorney licensed
to practice law in this State.  The execution of the articles
of organization constitutes an  affirmation  by  the  person,
under  penalty  of perjury, that the facts stated therein are
true.
    (b)  A limited liability company shall have one  or  more
members.
    (c)  A  limited  liability  company  is  a  legal  entity
distinct from its members.
(Source: P.A. 89-201, eff. 1-1-96; 90-424, eff. 1-1-98.)

    (805 ILCS 180/5-47 new)
    Sec. 5-47.  Statement of correction.
    (a)  Whenever  any instrument authorized to be filed with
the Secretary of State under any provision of  this  Act  has
been  so  filed  and,  as  of  the date of the action therein
referred to, contains any misstatement of fact, typographical
error, error of transcription, or other error  or  defect  or
was  defectively or erroneously executed, such instrument may
be corrected by filing, in accordance with  Section  5-45  of
this Act, a statement of correction.
    (b)  A  statement  of  correction  shall  set  forth  the
following:
         (1)  The  name  of the limited liability company and
    the state or country  under  the  laws  of  which  it  is
    organized.
         (2)  The title of the instrument being corrected and
    the date it was filed with the Secretary of State.
         (3)  The   inaccuracy,   error,   or  defect  to  be
    corrected and the portion of the instrument in  corrected
    form.
    (c)  A  statement  of correction shall be executed in the
same manner in  which  the  instrument  being  corrected  was
required to be executed.
    (d)  The  corrected  instrument  shall be effective as of
the date the original instrument was filed.
    (e)  A statement of correction shall not do  any  of  the
following:
         (1)  Effect  any  change  or  amendment  of articles
    which would not in all respects have  complied  with  the
    requirements  of  this  Act  at  the  time  of filing the
    instrument being corrected.
         (2)  Take the place of any document,  statement,  or
    report otherwise required to be filed by this Act.
         (3)  Affect   any  right  or  liability  accrued  or
    incurred before such filing, except  that  any  right  or
    liability  accrued  or incurred by reason of the error or
    defect being corrected  shall  be  extinguished  by  such
    filing   if   the   person  having  such  right  has  not
    detrimentally relied on the original instrument.
         (4)  Alter  the  provisions  of  the   articles   of
    organization   with  respect  to  the  limited  liability
    company name or purpose and the names  and  addresses  of
    the  organizers, initial manager or managers, and initial
    member or members.
         (5)  Alter the provisions  of  the  application  for
    admission  to  transact  business  as  a  foreign limited
    liability company with respect to the  limited  liability
    name.
         (6)  Alter  the  provisions  of  the  application to
    adopt or change an assumed limited liability company name
    with respect to the  assumed  limited  liability  company
    name.
         (7)  Alter the wording of any resolution as filed in
    any document with the Secretary of State and which was in
    fact adopted by the members or managers.

    (805 ILCS 180/5-48 new)
    Sec. 5-48.  Petition for refund.
    (a)  Any  domestic  or  foreign limited liability company
having authority to  transact  business  in  this  State  may
petition  the Secretary of State for a refund of fees claimed
to have been  erroneously  paid,  subject  to  the  following
limitations:
         (1)  No  refund  shall be made unless a petition for
    refund has been filed in accordance with Section 5-45  of
    this  Act  within 3 years after the amount to be refunded
    was paid.
         (2)  If  the  refund  claimed  is  based   upon   an
    instrument  filed  with  the  Secretary  of  State  which
    contained  a  misstatement  of fact, typographical error,
    error of transcription, or  other  error  or  defect,  no
    refund  of  any  fee  shall be made unless a statement of
    correction has been filed in accordance with Section 5-47
    of this Act.
    (b)  The  petition  for  refund  shall  be  executed   in
accordance  with Section 5-45 of this Act and shall set forth
the following:
         (1)  The name of the limited liability  company  and
    the  state  or  country  under  the  laws  of which it is
    organized.
         (2)  The amount of the claim.
         (3)  The details of the transaction  and  all  facts
    upon which the petitioner relies.
         (4)  Any other information required by rule.
    (c)  If the Secretary of State determines that the amount
paid  is  incorrect,  he  or  she shall refund to the limited
liability company any amount paid in  excess  of  the  proper
amount;  provided,  however, that no refund shall be made for
an amount less than $200, and any refund in  excess  of  that
amount  shall  be reduced by $200; and provided further, that
such refund shall be made without payment of interest.
    (805 ILCS 180/35-3)
    Sec. 35-3.  Limited  liability  company  continues  after
dissolution.
    (a)  Subject  to  subsections  subsection  (b) and (c) of
this Section, a limited  liability  company  continues  after
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  its business as if dissolution had never occurred and
    any liability incurred by the company or a  member  after
    the dissolution and before the waiver is determined as if
    the dissolution had never occurred; and
         (2)  the  rights  of  a  third  party accruing under
    subsection (a) of Section 35-7 or arising out of  conduct
    in  reliance  on  the  dissolution before the third party
    knew or received a notification of  the  waiver  are  not
    adversely affected.
    (c)  Unless   otherwise   provided  in  the  articles  of
organization  or  the  operating   agreement,   the   limited
liability  company is not dissolved and is not required to be
wound up if:
         (1)  within 6 months or such period as  is  provided
    for  in  the  articles  of  organization or the operating
    agreement after the occurrence of the event  that  caused
    the  dissociation  of  the  last  remaining  member,  the
    personal  representative  of  the  last  remaining member
    agrees in  writing  to  continue  the  limited  liability
    company    until    the   admission   of   the   personal
    representative of that member or its nominee or  designee
    to  the  limited liability company as a member, effective
    as of  the  occurrence  of  the  event  that  caused  the
    dissociation  of the last remaining member, provided that
    the articles of organization or the  operating  agreement
    may  provide that the personal representative of the last
    remaining member shall be obligated to agree  in  writing
    to  continue  the  limited  liability  company and to the
    admission of the personal representative of  that  member
    or  its  nominee  or  designee  to  the limited liability
    company as a member, effective as of  the  occurrence  of
    the  event  that  caused  the  dissociation  of  the last
    remaining member; or
         (2)  a member is admitted to the  limited  liability
    company  in  the  manner  provided for in the articles of
    organization or the operating agreement, effective as  of
    the  occurrence of the event that caused the dissociation
    of the last remaining member, within  6  months  or  such
    other   period  as  is  provided  for  in  the  operating
    agreement after the occurrence of the event  that  caused
    the  dissociation  of the last remaining member, pursuant
    to a provision of the articles  of  organization  or  the
    operating  agreement  that  specifically provides for the
    admission of a member to the  limited  liability  company
    after  there  is  no  longer  a  remaining  member of the
    limited liability company.
(Source: P.A. 90-424, eff. 1-1-98.)

    (805 ILCS 180/35-30)
    Sec. 35-30.  Procedure for administrative dissolution.
    (a)  After the Secretary of State determines that one  or
more grounds exist under Section 35-25 for the administrative
dissolution  of a limited liability company, the Secretary of
State shall send a notice of delinquency by regular  mail  to
each  delinquent  limited liability company at its registered
office or, if the limited liability  company  has  failed  to
maintain  a registered office, then to the last known address
shown on the records of the Secretary of State for the office
at  which  records  of  the  limited  liability  company  are
maintained in accordance with Section 1-40 of this Act to the
member or manager at the last known office of the  member  or
manager.
    (b)  If  the  limited  liability company does not correct
the default within 120 90 days  following  the  date  of  the
notice of delinquency, the Secretary of State shall thereupon
dissolve the limited liability company by issuing a notice of
dissolution  that recites the grounds for dissolution and its
effective date.   The  Secretary  of  State  shall  file  the
original of the notice in his or her office and mail one copy
to the limited liability company at its registered office or,
if  the  limited  liability  company has failed to maintain a
registered office, then to the last known  address  shown  on
the records of the Secretary of State for the office at which
records  of  the  limited liability company are maintained in
accordance with Section 1-40 of this Act.
    (c)  Upon the administrative  dissolution  of  a  limited
liability  company,  a  dissolved  limited  liability company
shall continue  for  only  the  purpose  of  winding  up  its
business.  A dissolved limited liability company may take all
action  authorized under Section 1-30 or necessary to wind up
its business and affairs and terminate.
(Source: P.A. 90-424, eff. 1-1-98.)

    (805 ILCS 180/45-1)
    Sec.  45-1.  Law  governing  foreign  limited   liability
companies.
    (a)  The  laws  of  the State or other jurisdiction under
which a foreign limited liability company is organized govern
its organization and internal affairs and  the  liability  of
its managers, members, and their transferees.
    (b)  A  foreign  limited  liability  company  may  not be
denied admission by reason of any difference between the laws
of another jurisdiction under which the  foreign  company  is
organized and the laws of this State.
    (c)  Having  authority to transact business in this State
A certificate of  authority  does  not  authorize  a  foreign
limited  liability  company  to  engage  in  any  business or
exercise any power that a limited liability company  may  not
engage in or exercise in this State.
(Source: P.A. 90-424, eff. 1-1-98.)

    (805 ILCS 180/45-35)
    Sec. 45-35.  Revocation of admission.
    (a)  The admission of a foreign limited liability company
to  transact  business  in  this  State may be revoked by the
Secretary  of  State  upon  the  occurrence  of  any  of  the
following events:
         (1)  The foreign limited company has failed to:
              (A)  file its limited liability company  annual
         report  within  the time required by Section 50-1 or
         has failed to pay any fees or  penalties  prescribed
         by this Article;
              (B)  appoint and maintain a registered agent in
         Illinois  within  60 days after a registered agent's
         notice of resignation under Section 1-35;
              (C)  file a report upon any change in the  name
         or business address of the registered agent;
              (D)  file  in  the  Office  of the Secretary of
         State any amendment to its application for admission
         as specified in Section 45-25; or
              (E)  renew its assumed name,  or  to  apply  to
         change  its  assumed  name  under this Act, when the
         limited liability company may only transact business
         within this State under its assumed name.
         (2)  A  misrepresentation  has  been  made  of   any
    material matter in any application, report, affidavit, or
    other document submitted by the foreign limited liability
    company under this Article.
    (b)  The admission of a foreign limited liability company
shall  not be revoked by the Secretary of State unless all of
the following occur:
         (1)  The Secretary of State has  given  the  foreign
    limited  liability  company not less than 60 days' notice
    thereof by mail addressed to  its  registered  office  in
    this  State  or, if the foreign limited liability company
    fails to appoint and maintain a registered agent in  this
    State,  addressed to the office required to be maintained
    under paragraph (5) of subsection (a) of Section 45-5.
         (2)  During that 60 day period, the foreign  limited
    liability   company   has  failed  to  file  the  limited
    liability company report, to pay fees  or  penalties,  to
    file  a  report of change regarding the registered agent,
    to   file   any   amendment,   or    to    correct    any
    misrepresentation.
    (c)  Upon the expiration of 120 60 days after the mailing
of the notice, the admission of the foreign limited liability
company to transact business in this State shall cease.
(Source: P.A. 90-424, eff. 1-1-98; 91-354, eff. 1-1-00.)

    (805 ILCS 180/45-47 new)
    Sec.    45-47.  Activities   that   do   not   constitute
transacting business.
    (a)  Without excluding  other  activities  that  may  not
constitute  transacting  business  in  this  State, a foreign
limited liability company  shall  not  be  considered  to  be
transacting  business  in  this  State,  for purposes of this
Article 45, by reason of carrying on in this State any one or
more of the following activities:
         (1)  Maintaining,   defending,   or   settling   any
    proceeding.
         (2)  Holding meetings of the managers or members  or
    carrying  on other activities concerning internal company
    affairs.
         (3)  Maintaining bank accounts.
         (4)  Maintaining  offices  or   agencies   for   the
    transfer,  exchange,  and  registration  of  the  limited
    liability   company's   own   securities  or  maintaining
    trustees  or   depositaries   with   respect   to   those
    securities.
         (5)  Selling through independent contractors.
         (6)  Soliciting or obtaining orders, whether by mail
    or  through  employees  or agents or otherwise, if orders
    require acceptance outside this State before they  become
    contracts.
         (7)  Owning,   without   more,   real   or  personal
    property.
         (8)  Conducting  an  isolated  transaction  that  is
    completed within 120 days and that  is  not  one  in  the
    course of repeated transactions of a like nature.
         (9)  Having a member or manager who is a resident of
    this State.
    (b)  This  Section  has no application to the question of
whether any foreign limited liability company is  subject  to
service  of  process  and suit in this State under any law of
this State.

    (805 ILCS 180/50-10)
    Sec. 50-10.  Fees.
    (a)  The Secretary of State shall charge and  collect  in
accordance   with  the  provisions  of  this  Act  and  rules
promulgated under its authority all of the following:
         (1)  Fees for filing documents.
         (2)  Miscellaneous charges.
         (3)  Fees for the sale of lists of filings and  for,
    copies  of  any documents, and for the sale or release of
    any information.
    (b)  The Secretary of State shall charge and collect  for
all of the following:
         (1)  Filing  articles  of  organization  of  limited
    liability companies (domestic), application for admission
    (foreign),   and   restated   articles   of  organization
    (domestic), $400.
         (2)  Filing amendments:
              (A)  For other than change of registered  agent
         name or registered office, or both, $100.
              (B)  For the purpose of changing the registered
         agent name or registered office, or both, $25.
         (3)  Filing  articles  of dissolution or application
    for withdrawal, $100.
         (4)  Filing an application to reserve a name, $300.
         (5)  (Blank). Renewal fee for reserved name, $100.
         (6)  Filing a notice of a  transfer  of  a  reserved
    name, $100.
         (7)  Registration of a name, $300.
         (8)  Renewal of registration of a name, $100.
         (9)  Filing  an  application  for  use of an assumed
    name under Section 1-20 of this Act, $150 for  each  year
    or  part  thereof ending in 0 or 5, $120 for each year or
    part thereof ending in 1 or 6, $90 for each year or  part
    thereof  ending  in  2  or  7,  $60 for each year or part
    thereof ending in 3 or 8,  $30  for  each  year  or  part
    thereof  ending in 4 or 9, and a renewal for each assumed
    name, $150 $300.
         (10)  Filing an application for change of an assumed
    name, $100.
         (11)  Filing an annual report of a limited liability
    company or foreign limited liability  company,  $200,  if
    filed  as  required  by  this  Act,  plus  a  penalty  if
    delinquent.
         (12)  Filing  an  application for reinstatement of a
    limited liability company or  foreign  limited  liability
    company $500.
         (13)  Filing  Articles  of Merger, $100 plus $50 for
    each party to  the  merger  in  excess  of  the  first  2
    parties.
         (14)  Filing an Agreement of Conversion or Statement
    of Conversion, $100.
         (15)  Filing a statement of correction, $25.
         (16)  Filing a petition for refund, $15.
         (17) (15)  Filing any other document, $100.
    (c)  The  Secretary of State shall charge and collect all
of the following:
         (1)  For furnishing a copy or certified copy of  any
    document,  instrument,  or  paper  relating  to a limited
    liability company or foreign limited  liability  company,
    $1  per  page,  but  not  less  than $25, and $25 for the
    certificate and for affixing the seal thereto.
         (2)  For the transfer  of  information  by  computer
    process media to any purchaser, fees established by rule.
(Source: P.A. 92-33, eff. 7-1-01.)

    Section  99.   Effective  date.  This Act takes effect on
July 1, 2003.