Illinois Compiled Statutes 805 ILCS 317/61 – Grounds for administrative dissolution
Current as of: 2024 | Check for updates
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The Secretary of State may dissolve any limited worker cooperative association administratively if:
(1) it has failed to file its annual report and pay
(1) it has failed to file its annual report and pay
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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;
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(2) it has failed to file in the Office of the
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Secretary of State any report after the expiration of the period prescribed for filing the report;
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(3) it has misrepresented any material matter in
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any application, report, affidavit, or other document submitted by the limited worker cooperative association;
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(4) it has failed to appoint and maintain a
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registered agent in Illinois;
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(5) a director or member to whom interrogatories have
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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
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(6) it has tendered payment to the Secretary of State
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which is returned due to insufficient funds, a closed account, or for any other reason, and acceptable payment has not been subsequently tendered.
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Terms Used In Illinois Compiled Statutes 805 ILCS 317/61
- Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
- Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
- Interrogatories: Written questions asked by one party of an opposing party, who must answer them in writing under oath; a discovery device in a lawsuit.
- Month: means a calendar month, and the word "year" a calendar year unless otherwise expressed; and the word "year" alone, is equivalent to the expression "year of our Lord. See Illinois Compiled Statutes 5 ILCS 70/1.10
- State: when applied to different parts of the United States, may be construed to include the District of Columbia and the several territories, and the words "United States" may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14