Illinois Statutes Chapter 805. Business Organizations § 105/112.30. Effect of dissolution

(1) Collecting its assets;

(2) Disposing of its assets that will not be distributed in kind;

(3) Giving notice in accordance with Section 112.75 of this Act and discharging or making provision for discharging its liabilities;

(4) Distributing its remaining assets in accordance with this Act; and

(5) Doing such other acts as are necessary to wind up and liquidate its affairs.

(1) Transfer title to the corporation's assets;

(2) Effect any change in the bylaws of the corporation or otherwise affect the regulation of the affairs of the corporation except that all action shall be directed to winding up the affairs of the corporation;

(3) Prevent suit by or against the corporation in its corporate name;

(4) Abate or suspend a proceeding pending by or against the corporation on the effective date of dissolution.