ILCS » Chapter 805 · Act 180
Illinois Compiled Statutes

805 ILCS 180/25-45 (2026)

Known claims against dissolved limited liability company

✓ current as of May 2026
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(805 ILCS 180/25-45)
    Sec. 25-45. Known claims against dissolved limited liability company.
    (a) A dissolved limited liability company may dispose of the known claims against it by following the procedure described in this Section.
    (b) A dissolved limited liability company shall notify its known claimants in writing of the dissolution. The notice must:
        (1) specify the information required to be included
    
in a claim;
        (2) provide a mailing address where the claim is to
    
be sent;
        (3) state the deadline for receipt of the claim,
    
which may not be less than 120 days after the date the written notice is received by the claimant; and
        (4) state that the claim will be barred if not
    
received by the deadline.
    (c) A claim against a dissolved limited liability company is barred if the requirements of subsection (b) of this Section are met, and:
        (1) the claim is not received by the specified
    
deadline; or
        (2) in the case of a claim that is timely received
    
but rejected by the dissolved company, the claimant does not commence a proceeding to enforce the claim within 90 days after the receipt of the notice of the rejection.
    (d) For purposes of this Section, the term "claim" does not include a contingent liability or a claim based on an event occurring after the effective date of dissolution.
(Source: P.A. 90-424, eff. 1-1-98.)

    
Notes of Decisions
Cited in 1 case (1 in the last 5 years), 2024–2024 · leading case: South Cent. FS, Inc. v. Tensen, 2024 IL App (5th) 190506-U (Ill. App. Ct. 2024).
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South Cent. FS, Inc. v. Tensen, 2024 IL App (5th) 190506-U (Ill. App. Ct. 2024). “See 805 ILCS 180/25-45, 35-4, 35-10 (West 2016).”
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