Illinois § 62
Full text of Illinois Illinois Compiled Statutes § 62, with citation guidance and answers to common questions.
§ 62.
Procedure for administrative dissolution. (a) After the Secretary of State determines that one or more grounds, as set forth in Section 35-25 of the Limited Liability Company Act, exist for the administrative dissolution of a limited worker cooperative association, the Secretary of State shall send a notice of delinquency by regular mail to the delinquent limited worker cooperative association at its registered office or, if the limited worker cooperative association has failed to maintain a registered office, then to the last known address shown on the records of the Secretary of State for the principal place of business of the limited worker cooperative association. (b) If the limited worker cooperative association does not correct the default described in paragraph (1) or (2) of Section 35-25 of the Limited Liability Company Act within 120 days following the date of the notice of delinquency, the Secretary of State shall thereupon dissolve the limited worker cooperative association by issuing a certificate of dissolution that recites the grounds for dissolution and its effective date. If the limited worker cooperative association does not correct the default described in paragraph (2.5), (3), (4), or (5) of Section 35-25 of the Limited Liability Company Act within 60 days following the notice, the Secretary of State shall dissolve the limited worker cooperative association by issuing a certificate of dissolution that recites the grounds for dissolution and its effective date. The Secretary of State shall file the original of the certificate in his or her office and mail one copy to the limited worker cooperative association at its registered office or, if the limited worker cooperative association has failed to maintain a registered office, then to the last known address shown on the records of the Secretary of State for the principal place of business of the limited worker cooperative association. (c) Upon the administrative dissolution of a limited worker cooperative association, a dissolved limited worker cooperative association shall continue for only the purpose of winding up its business. A dissolved limited worker cooperative association may take all action authorized under Section 1-30 of the Limited Liability Company Act or otherwise necessary or appropriate to wind up its business and affairs and terminate. (Source: P.A. 102-351, eff. 8-13-21.)
Frequently Asked Questions About Illinois § 62
What does Illinois Compiled Statutes § 62 cover?
Section 62 is part of the Illinois Compiled Statutes, the codified statutory law of Illinois. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Illinois § 62?
A common citation format is "Illinois Compiled Statutes § 62" (Illinois). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Illinois law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Illinois official source linked on this page or consult a licensed Illinois attorney.
How does Illinois § 62 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Illinois can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Illinois.