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IL HB3780

Bill

Official Source

Status

Introduced

2/25/2009

Primary Sponsor

Sandy Cole

Click for details

Origin

House of Representatives

96th General Assembly

AI Summary

  • Amends the Limited Liability Company Act by changing penalty provisions in Section 50-15 (805 ILCS 180/50-15)
  • Reduces late penalty for limited liability companies that fail to file annual reports and pay required fees from $300 plus $100 for each year of delinquency to $25 per month until returned to good standing
  • Applies the reduced $25 monthly penalty to companies that fail to appoint and maintain a registered agent within 60 days of notification by the Secretary of State
  • Maintains existing enforcement provisions allowing the Secretary of State to refuse filing additional documents and report companies as not in good standing until delinquencies are resolved

Legislative Description

LLC ACT- LATE PENALTY

Last Action

Rule 19(a) / Re-referred to Rules Committee

3/13/2009

Committee Referrals

Rules3/13/2009
Judiciary I - Civil Law3/3/2009
Rules2/25/2009

Full Bill Text

No bill text available