Illinois General Assembly - Full Text of HB4578
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Full Text of HB4578  100th General Assembly


Rep. Jay Hoffman

Filed: 2/28/2018





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2    AMENDMENT NO. ______. Amend House Bill 4578 on page 8, by
3inserting immediately below line 17 the following:
4    "Section 10. The Limited Liability Company Act is amended
5by changing Section 50-15 as follows:
6    (805 ILCS 180/50-15)
7    Sec. 50-15. Penalty.
8    (a) The Secretary of State shall declare any limited
9liability company or foreign limited liability company to be
10delinquent and not in good standing if any of the following
12        (1) It has failed to file its annual report and pay the
13    requisite fee as required by this Act before the first day
14    of the anniversary month in the year in which it is due.
15        (2) It has failed to appoint and maintain a registered
16    agent in Illinois within 60 days of notification of the



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1    Secretary of State by the resigning registered agent.
2        (3) (Blank).
3    (b) If the limited liability company or foreign limited
4liability company has not corrected the default within the time
5periods prescribed by this Act, the Secretary of State shall be
6empowered to invoke any of the following penalties:
7        (1) For failure or refusal to comply with subsection
8    (a) of this Section before the first day of the second
9    month after the anniversary month within 60 days after the
10    due date, a penalty of $100 $300 plus $100 for each year or
11    fraction thereof beginning with the second year of
12    delinquency until returned to good standing or until
13    reinstatement is effected.
14        (2) The Secretary of State shall not file any
15    additional documents, amendments, reports, or other papers
16    relating to any limited liability company or foreign
17    limited liability company organized under or subject to the
18    provisions of this Act until any delinquency under
19    subsection (a) is satisfied.
20        (3) In response to inquiries received in the Office of
21    the Secretary of State from any party regarding a limited
22    liability company that is delinquent, the Secretary of
23    State may show the limited liability company as not in good
24    standing.
25(Source: P.A. 93-32, eff. 12-1-03; 94-605, eff. 1-1-06.)".