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Current as of January 01, 2025 | Updated by Findlaw Staff
§ 5-50. Amendment or termination by judicial act. If a person required by Section 5-45 to execute an amendment or statement of termination fails or refuses to do so, any other member and any transferee of a limited liability company interest, who is adversely affected by the failure or refusal, may petition a court to direct the amendment or statement of termination. If the court finds that the amendment or statement of termination is proper and that any person so designated has failed or refused to execute the amendment or statement of termination, it shall order the Secretary of State to record an appropriate amendment or statement of termination.
Cite this article: FindLaw.com - Illinois Statutes Chapter 805. Business Organizations § 180/5-50. Amendment or termination by judicial act - last updated January 01, 2025 | https://codes.findlaw.com/il/chapter-805-business-organizations/il-st-sect-805-180-5-50/
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