Sec. 112.25. Revocation of Dissolution.

281 words·~1 min read·/il/chapter-805/act-105/112-25

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)A corporation may revoke its dissolution within 60 days of its effective date if the corporation has not begun to distribute its assets or has not commenced a proceeding for court supervision of its winding up under Section 112.50 of this Act.

(b)The corporation's board of directors may revoke the dissolution without action by members entitled to vote on dissolution.

(c)Within 60 days after the dissolution has been revoked by the corporation, articles of revocation of dissolution shall be executed and filed in duplicate in accordance with Section 101.10 of this Act and shall set forth:

(1)The name of the corporation;

(2)The effective date of the dissolution that was revoked;

(3)A statement that the corporation has not begun to distribute its assets nor has it

commenced a proceeding for court supervision of its winding up;

(4)The date the revocation of dissolution was authorized;

(5)A statement that the corporation's board of directors revoked the dissolution.

(d)When the provisions of this Section have been complied with, the Secretary of State shall file the articles of revocation of dissolution. Failure to file the revocation of dissolution as required in subsection

(c)hereof shall not be grounds for the Secretary of State to reject the filing, but the corporation filing beyond the time period shall pay a penalty as prescribed by this Act.

(e)The revocation of dissolution is effective on the date of the filing of the articles thereof by the Secretary of State and shall relate back and take effect as of the date of dissolution and the corporation may resume conducting affairs as if dissolution had never occurred.