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Friday, December 2, 2011

Dissolving Your LLC Or Corporation

If you are looking to dissolve your Illinois LLC or Corporation, you may file Articles of Dissolution with the Secretary of State. This provides for a more orderly and official dissolution of the entity as opposed to not filing the annual report and waiting for an administrative dissolution. The forms are easy, inexpensive and provide for an address for service of process. The Business Corporation Act provides that "Dissolution of a corporation may be authorized by the unanimous consent in writing of the holders of all outstanding shares entitled to vote on dissolution. Dissolution pursuant to this Section does not require any vote or action of the directors of the corporation." 805 ILCS 5/12.10
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