HB0055 Summary

• Transfers assumed business name registration from county clerks to the Illinois Secretary of State effective July 1, 2010, with a transition period allowing county clerks to accept filings through June 30, 2010.

• Requires assumed business names to be distinguishable from other assumed business names, corporation names, and limited liability company names registered with the Secretary of State.

• Grandfathers names adopted, reserved, or registered before July 1, 2010 under the prior law, allowing continued use without modification.

• Amends multiple business registration laws (Property Tax Code, Mobile Home Tax Act, Liquor Control Act, Business Corporation Act, Professional Service Corporation Act, Not-For-Profit Corporation Act, and Limited Liability Company Act) to reference the Assumed Business Name Act and remove references to county-specific registration.

• Effective July 1, 2009, except for the assumed business name transition provisions which take effect July 1, 2010.