Illinois Compiled Statutes
805 ILCS 105/112.30 (2026)
Effect of dissolution
✓ current as of May 2026
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(805 ILCS 105/112.30)
(from Ch. 32, par. 112.30)
Sec. 112.30.
Effect of dissolution.
(a) Dissolution of
a corporation terminates its corporate existence and a
dissolved corporation shall not thereafter conduct any
affairs except that necessary to wind up and liquidate its
affairs, including:
(1) Collecting its assets;
(2) Disposing of its assets that will not be
distributed in kind;
(3) Giving notice in accordance with Section 112.75 of
this Act and discharging or making provision for discharging
its liabilities;
(4) Distributing its remaining assets in accordance
with this Act; and
(5) Doing such other acts as are necessary to wind up
and liquidate its affairs.
(b) After dissolution, a corporation may transfer good and
merchantable title to its assets as authorized by its board
of directors or in accordance with its bylaws.
(c) Dissolution of a corporation does not:
(1) Transfer title to the corporation's assets;
(2) Effect any change in the bylaws of the
corporation or otherwise affect the regulation of the
affairs of the corporation except that all action shall be
directed to winding up the affairs of the corporation;
(3) Prevent suit by or against the corporation in its
corporate name;
(4) Abate or suspend a proceeding pending by or
against the corporation on the effective date of
dissolution.
(Source: P.A. 84-1423.)
Notes of Decisions
Cited in 4
cases, 2000–2013 · leading case: In Re Est. of Lind, 734 N.E.2d 47 (Ill. App. Ct. 2000).
In Re Est. of Lind, 734 N.E.2d 47 (Ill. App. Ct. 2000). “805 ILCS 105/112.30 (West 1998). McCarter also contended that a testamentary gift will not vest in a dissolved "charitable organization.”
Young Am.'s Found. v. Doris A. Pistole Revocable Living Trust, 2013 IL App (2d) 121122 (Ill. App. Ct. 2013). “30(c)(4) (West 2010); 805 ILCS 105/112.30(c)(4) (West 2010)) and that a corporation dissolved for reasons not involving noncompliance with the statute may bring suit on any claim it possesses within a certain period of time (see 805 ILCS 5/12.”
McCarter v. Nw. Univ., 734 N.E.2d 47 (Ill. App. Ct. 2000). “805 ILCS 105/112.30 (West 1998). McCarter also contended that a testamentary gift will not vest in a dissolved “charitable organization.”
In re Est. of Lind (Ill. App. Ct. 2000). “805 ILCS 105/112.30 (West 1998). McCarter also contended that a testamentary gift will not vest in a dissolved “charitable organization.”
— 805 ILCS 105/112.30(c)(4) — 1 case
Young Am.'s Found. v. Doris A. Pistole Revocable Living Trust, 2013 IL App (2d) 121122 (Ill. App. Ct. 2013). “30(c)(4) (West 2010); 805 ILCS 105/112.30(c)(4) (West 2010)) and that a corporation dissolved for reasons not involving noncompliance with the statute may bring suit on any claim it possesses within a certain period of time (see 805 ILCS 5/12.”
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