Learn About the Law
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Current as of January 01, 2022 | Updated by FindLaw Staff
§ 61. Grounds for administrative dissolution. The Secretary of State may dissolve any limited worker cooperative association administratively if:
(1) it has failed to file its annual report and pay its fee as required by this Act before the first day of the anniversary month or has failed to pay any required fees, penalties, or charges;
(2) it has failed to file in the Office of the Secretary of State any report after the expiration of the period prescribed for filing the report;
(3) it has misrepresented any material matter in any application, report, affidavit, or other document submitted by the limited worker cooperative association;
(4) it has failed to appoint and maintain a registered agent in Illinois;
(5) a director or member to whom interrogatories have been propounded by the Secretary of State as provided in Section 5-60 of the Limited Liability Company Act fails to answer the interrogatories fully and to timely file the answer in the Office of the Secretary of State; or
(6) it has tendered payment to the Secretary of State which is returned due to insufficient funds, a closed account, or for any other reason, and acceptable payment has not been subsequently tendered.
Cite this article: FindLaw.com - Illinois Statutes Chapter 805. Business Organizations § 317/61. Grounds for administrative dissolution - last updated January 01, 2022 | https://codes.findlaw.com/il/chapter-805-business-organizations/il-st-sect-805-317-61/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Search our directory by legal issue
Enter information in one or both fields (Required)