In Illinois if a corporation is "involuntarily dissolved" for failing to file annual reports and/or its annual franchise fees, the officers and directors of the corporation may be individually responsible for a period of 5 years after the "involuntary dissolution" for pending claims against the corporation at the time it is involuntarily dissolved. Further - if the corporation continues to operate after being involuntarily dissolved the officers and directors of the corporation will be responsible individually for any debts or liabilities, including personal injury claims, for which the dissolved corporation becomes liable for during the period of time it continues to operate after being involuntarily dissolved by the Illinois Secretary of State.
Any questions ? Call me ... I look forward to speaking with you. Attorney George Sachs
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OK, remember the foregoing is not intended as legal advice.
You need to consult with an Illinois licensed attorney for legal advice for your own particular situation and questions.
Thanks for stopping by - let me know what you think or if you have any questions.
Regards,
Attorney George M. Sachs
Email: attorneygeorgesachs@gmail.com
Telephone: (847) 274-8312
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