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SB1435 Engrossed |
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LRB095 10506 LCT 30721 b |
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| 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 3 years have elapsed |
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| following the date of issuance of the
certificate of |
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| dissolution. If the domestic corporation that has been |
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| administratively dissolved is reinstated within 3 years after |
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| the date of issuance of the
certificate of dissolution, the |
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| domestic corporation shall continue under its previous name |
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| without impacting its continuous legal status, unless the |
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| corporation petitions to change its name 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. |