Sec. 1004. Reinstatement of limited liability partnership status.

299 words·~1 min read·/il/chapter-805/act-206/1004

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

(a)A partnership whose status as a limited liability partnership or foreign limited liability partnership has expired as a result of the failure to file a renewal report required by Section 1003 may reinstate such status as a limited liability partnership or foreign limited liability partnership upon:

(1)the filing with the Secretary of State of an application for reinstatement;

(2)the filing with the Secretary of State of all reports then due and becoming due; and

(3)the payment to the Secretary of State of all fees then due and becoming due.

(b)The application for reinstatement shall be executed and filed in duplicate in accordance with Section 105 and shall set forth all of the following:

(1)the name of the limited liability partnership at the time of expiration;

(2)the date of expiration;

(3)the name and address of the agent for service of process; provided that any change

to either the agent for service of process or the address of the agent for service of process is properly reported.

(c)When a partnership whose status as a limited liability partnership or foreign limited liability partnership has expired has complied with the provisions of this Section, the Secretary of State shall file the application for reinstatement.

(d)Upon filing of the application for reinstatement:

(i)status as a limited liability partnership or foreign limited liability partnership shall be deemed to have continued without interruption from the date of expiration and shall stand revived with the powers, duties, and obligations, as if it had not expired, and

(ii)all acts and proceedings of its partners, acting or purporting to act in that capacity, that would have been legal and valid but for the expiration shall stand ratified and confirmed.