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Illinois Legislative and Administrative Changes Posted:7/22/03
The following changes became effective on July 1, 2003:
Business Corporations
- Business corporations may no longer change their registered agent on the Annual Report. Changes must be filed on Form BCA 5.10. (This does NOT apply to Not for Profit Corporations).
- The returned check fee is increased from $2.00 to $25.00.
- Section 4.10 has been amended to permit a person who reserved a corporate name to cancel the reservation at any time during the 90-day reservation period. The fee is $5.00.
- Section 13.45 has been amended to permit a qualified foreign corporation that has merged into a non-qualified foreign corporation to withdraw by filing a certified copy of the articles of merger. The filing fee is $100.00.
Limited Liability Companies
- A limited liability company may no longer renew a name reservation under section 1.15(c). The name reservation may be cancelled at any time during the 90-day reservation period.
- Assumed names may, but are not required, to have a designation. Forced assumed names must include a designation.
- New section 5.47 permits the filing of a statement of correction for a fee of $25.00.
- New section 45-47 sets forth the activities that do no constitute doing business.
- An entity that is the manager or member of a limited liability company is no longer required to qualify in Illinois. Entities must provide evidence of existence (certificate of good standing) upon the request of the Secretary of State. A foreign entity that is qualified does not need to be in good standing in order to sign documents, but it may not be revoked. A domestic entity that is a signatory is not required to be in good standing, but it may not be dissolved. See 14 Ill. Adm. Code 178.20.
Limited Partnerships
Limited Partnership fees are increased as follows:
- Certificate of Limited Partnership - $150.00
- Certificate to be Governed - $50.00
- Certificate of Amendment - $50.00
- Biennial Renewal Report - $150.00
- Certificate of Reinstatement (no changes to penalties) - $200.00
- Any other - $50.00
- Flat fee for certified copies (no matter how many pages) - $25.00
- Certificate of Good Standing - $25.00
- Certificate of Existence - $25.00
- Certificate of Merger - $50.00
- Certificate of Cancellation - $25.00
Limited Partnership expedite fees are doubled.
In addition to the above, all corporate and limited
liability company expedite fees will double effective September 1. Corporate
and limited liability company filing fees will increase effective December
1.
These changes are effected under IL Senate Bills 1506
and 1903. To review the full text of these bills, go to http://www.legis.state.il.us/legislation/default.asp
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