Illinois General Assembly - Full Text of Public Act 095-0507
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Public Act 095-0507


 

Public Act 0507 95TH GENERAL ASSEMBLY



 


 
Public Act 095-0507
 
SB1435 Enrolled LRB095 10506 LCT 30721 b

    AN ACT concerning business.
 
    Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
 
    Section 5. The Business Corporation Act of 1983 is amended
by adding Section 12.43 as follows:
 
    (805 ILCS 5/12.43 new)
    Sec. 12.43. Administrative dissolution; corporate name.
The Secretary of State shall not allow another corporation to
use the name of a domestic corporation that has been
administratively dissolved until 3 years have elapsed
following the date of issuance of the certificate of
dissolution. If the domestic corporation that has been
administratively dissolved is reinstated within 3 years after
the date of issuance of the certificate of dissolution, 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.
 
    Section 10. The General Not For Profit Corporation Act of
1986 is amended by adding Section 112.43 as follows:
 
    (805 ILCS 105/112.43 new)
    Sec. 112.43. Administrative dissolution; corporate name.
The Secretary of State shall not allow another corporation to
use the name of a domestic corporation that has been
administratively dissolved until 3 years have elapsed
following the date of issuance of the certificate of
dissolution. If the domestic corporation that has been
administratively dissolved is reinstated within 3 years after
the date of issuance of the certificate of dissolution, 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.
 
    Section 99. Effective date. This Act takes effect upon
becoming law.

Effective Date: 8/28/2007