SB1435 Enrolled

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. 
 


 






SB1435 Enrolled
- 2 -
LRB095 10506 LCT 30721 b




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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 3 years have elapsed 
4
following the date of issuance of the
certificate of 
5
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 
8
domestic corporation shall continue under its previous name 
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without impacting its continuous legal status, unless the 
10
corporation petitions to change its name upon reinstatement.
 

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