Sec. 13-20. Statement of denial.

136 words·~1 min read·/il/chapter-805/act-180/13-20

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

Sec. 13-20. Statement of denial. A person named in a filed statement of authority granting that person authority may deliver to the Secretary of State for filing a statement of denial that:

(1)provides the name of the limited liability company and the caption of the statement

of authority to which the statement of denial pertains; and

(2)denies the grant of authority.

An effective statement of denial operates as a restrictive amendment under subsection

(b)of Section 13-15 and, if a certified copy thereof is recorded in the office for recording transfers of real property in which a prior statement of authority has been recorded as provided in subsection

(e)of Section 13-15, the statement of denial shall be deemed a limitation on the statement of authority for purposes of subsection

(f)of Section 13-15.