IL HB5093

Limited liability companies may revoke their termination within 90 days after the effective date of termination if no asset distribution has begun and no court supervision proceeding has been commenced.

A majority of LLC members or managers must approve the revocation of termination.

Articles of revocation of termination must be filed with the Secretary of State within 90 days and include the LLC name, original termination effective date, confirmation that no asset distribution occurred, authorization date, and member/manager approval.

LLCs filing articles of revocation after the 90-day period must pay a penalty but the Secretary of State may not reject the filing.

Upon filing, the revocation takes effect retroactively to the original termination date and the LLC may resume business as if termination never occurred.