Legal Question in Business Law in Illinois
Dissolved Corporation
My husband and I incorporated to start a small business. He ran the business on a day to day basis. We separated last year. He did not file the corporate papers with the state and found out recently that our corporation was dissolved by the state. What does this mean? Does this change the way the business is divided between us? Does he have the ability to sell the business without my signature? Without the articles of incorporation where do we stand? If we don't have the corporation re-instated who owns what?
2 Answers from Attorneys
Re: Dissolved Corporation
For a fee charged by the State, you can get the corporation reinstated, as long as no one else is using the corporate name. If you need assistance, please feel free to contact my office.
-- Kenneth J. Ashman; www.AshmanLawOffices.com; [email protected]
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Re: Dissolved Corporation
being "incorporated" is a legal term. You are either incorporated or not. If no articles of incorporation were filed with the secretary of state of illinois, then you are not, and were never, incorporated. Instead, you and your husband had a "business partnership." Dissolving a partnership differs from a corporation. This is an issue that is common for a divorce attorney or business attorney. He does not have the right to dissolve without consent, however, a bona fide buyer of the business or property of the business may have superior rights to you (you may then be forced to go after him). If you have any further questions, you can contact me at (847)845-4345. Have a great day, Justin Lampel
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