Statutes, codes, and regulations
Illinois Compiled Statutes
BUSINESS AND EMPLOYMENTChapter 805 - BUSINESS ORGANIZATIONSSubchapter - LIMITED LIABILITY COMPANIESAct 180 - LIMITED LIABILITY COMPANY ACT
Article 13 - RELATIONS OF MEMBERS AND MANAGERS TO PERSONS DEALING WITH LIMITED LIABILITY COMPANY
Section 805 ILCS 180/13-20 - Statement of denial

805 ILCS 180/13-20

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Current through Public Act 103-1052
Section 805 ILCS 180/13-20 - Statement of denial

A person named in a filed statement of authority granting that person authority may deliver to the Secretary of State for filing a statement of denial that:

(1) provides the name of the limited liability company and the caption of the statement of authority to which the statement of denial pertains; and
(2) denies the grant of authority.

An effective statement of denial operates as a restrictive amendment under subsection (b) of Section 13-15 and, if a certified copy thereof is recorded in the office for recording transfers of real property in which a prior statement of authority has been recorded as provided in subsection (e) of Section 13-15, the statement of denial shall be deemed a limitation on the statement of authority for purposes of subsection (f) of Section 13-15.

805 ILCS 180/13-20

Added by P.A. 099-0637,§ 5, eff. 7/1/2017.