95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
SB1435


 
Introduced 2/9/2007, by Sen. Ms. Mattie Hunter
 
SYNOPSIS AS INTRODUCED:
 		













805 ILCS 5/12.43 new






805 ILCS 105/112.43 new










    Amends the Business Corporation Act of 1983 and the General Not For Profit Corporation Act of 1986.  Provides that the Secretary of State shall not allow another corporation to use the name of a domestic corporation that has been administratively dissolved until the end of the 5-year reinstatement period. Provides that if the domestic corporation that has been administratively dissolved is reinstated within the 5-year period of reinstatement, the domestic corporation shall continue under its previous name without impacting its continuous legal status, unless the corporation petitions to change its name upon reinstatement. Effective immediately.


















LRB095 10506 LCT 30721 b

















 


 


A BILL FOR









 











SB1435

LRB095 10506 LCT 30721 b






1
    AN ACT concerning business.

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


 
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    Section 5. The Business Corporation Act of 1983 is amended  
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by adding Section 12.43 as follows:
 
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    (805 ILCS 5/12.43  new)
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    Sec. 12.43. Administrative dissolution; corporate name. 
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The Secretary of State shall not allow another corporation to 
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use the name of a domestic corporation that has been 
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administratively dissolved until the end of the 5-year 
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reinstatement period provided for in Section 12.45 of this Act. 
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If the domestic corporation that has been administratively 
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dissolved is reinstated within the 5-year period of 
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reinstatement, the domestic corporation shall continue under 
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its previous name without impacting its continuous legal 
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status, unless the corporation petitions to change its name 
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upon reinstatement.
 
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    Section 10. The General Not For Profit Corporation Act of 
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1986 is amended by adding Section 112.43 as follows:
 
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    (805 ILCS 105/112.43  new)
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    Sec. 112.43. Administrative dissolution; corporate name. 
 


 






SB1435
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LRB095 10506 LCT 30721 b




1
The Secretary of State shall not allow another corporation to 
2
use the name of a domestic corporation that has been 
3
administratively dissolved until the end of the 5-year 
4
reinstatement period provided for in Section 112.45 of this 
5
Act. If the domestic corporation that has been administratively 
6
dissolved is reinstated within the 5-year period of 
7
reinstatement, the domestic corporation shall continue under 
8
its previous name without impacting its continuous legal 
9
status, unless the corporation petitions to change its name 
10
upon reinstatement.
 

11
    Section 99. Effective date. This Act takes effect upon 
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becoming law.