Illinois General Assembly - Illinois Compiled Statutes

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805 ILCS 180/5-40

(805 ILCS 180/5-40)

Sec. 5-40.

Effect of filing of articles of
organization.

(a) Upon the filing of the articles of organization by
the Secretary of State, the limited liability company's
existence shall begin, and each of the duplicate copies
stamped "Filed" and marked with the filing date shall be
conclusive evidence, except as against the State, that all
conditions precedent required to be performed by the
organizers have been complied with and that the limited
liability company has been or shall be, on a later date
if so specified in the articles of organization, legally organized
and formed under this Act.

(b) If a later date is specified, the articles of
organization may be prevented from becoming effective by an
application for withdrawal executed in the same manner as
the articles of organization and filed with the Secretary of
State on or before the specified effective date.

(c) Nothing in this Section shall affect the right of
this State to institute a proceeding to cancel or revoke the
articles of organization or for involuntary dissolution of
the limited liability company or the right of any aggrieved
person to maintain an action to enjoin or obtain other relief
for a violation of or failure to comply with the provisions
of Section 1-10.

(Source: P.A. 87-1062.)