Sec. 4.20. Change and cancellation of assumed corporate name.

224 words·~1 min read·/il/chapter-805/act-5/4-20

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

(a)Any domestic or foreign corporation may, pursuant to resolution by its board of directors, change or cancel any or all of its assumed corporate names by executing and filing, in accordance with Section 1.10 of this Act, an application setting forth:

(1)The true corporate name.

(2)The state or country under the laws of which it is organized.

(3)That it intends to cease transacting business under an assumed corporate name by

changing or cancelling it.

(4)The assumed corporate name to be changed from or cancelled.

(5)If the assumed corporate name is to be changed, the assumed corporate name that the

corporation proposes to use.

(b)Upon the filing of an application to change an assumed corporate name, the corporation shall have the right to use the assumed corporate name for the balance of the period authorized by subsection

(d)of Section 4.15.

(c)The right to use an assumed corporate name shall be cancelled by the Secretary of State:

(1)If the corporation fails to renew an assumed corporate name.

(2)If the corporation has filed an application to change or cancel an assumed corporate

name.

(3)If a domestic corporation has been dissolved.

(4)If a foreign corporation has had its authority to do business in this State revoked.