FORMING AN ILLINOIS LIMITED LIABILITY COMPANY
The following is a list of items that must be included in all Illinois Articles of Organization filing for a limited liability company: (Read the entire article at: www.il-registered-agent.blogspot.com )
1. Limited Liability Company Name: The company name must contain the terms "Limited Liability Company, LLC or L.L.C., and must be in the English alphabet, Arabic or Roman numerals, can not contain the following terms: "Corporation, Corp, Incorporated, Inc., Ltd., Co., or Limited Partnership or L.P. " The company name is the name the company will be doing business as in the State of Illinois and must be distinguishable from other companies that have filings with the Illinois Secretary of State.
2. Address of Principal Place of Business where records of the company will be kept: The principal office may, but need not be a place of business in Illinois.
3. Articles of Organization are effective on: Effective date means the date your business is established in the eyes of the Secretary of State (filing date) or you have the option to choose a date up to 60 days past the filing date for your effective date.
4. Registered Agent Name and Registered Office Address: Each limited liability company and foreign limited liability company must continuously maintain a registered agent and registered office in the state of Illinois.
5. Purpose(s) for which the Limited Liability Company is organized: The general purpose clause is now included in the Articles of Organization but can be broadened to include your company specifics. Typical general purpose clause language is as follows: "the transaction of any or all lawful business for which limited liability companies may be organized under the Illinois Limited Liability Company Act".
6. Latest date, if any, upon which the company is to dissolve: Most entities leave this blank to indicate the duration of the company will be perpetual unless there is a specific event that is specified in the company's operating agreement then that date may be entered.
7. (Optional) Other provisions for the regulation of the internal affairs of the Company: This could be any other provision, not inconsistent with law, that the members elect to set out in the articles of organization for the regulation of the internal affairs of the limited liability company, including any provisions that are, under the Illinois Limited Liability Company Act, required or permitted to be set out in the operating agreement of the limited liability company.
8. The Limited Liability Company is either managed by the managers or has management vested in the members: This will be identified in your operating agreement and in layman's terms in a manager managed company the members have chosen a manager or managers to direct the operations of the company. In a member managed company, the member has a direct interest in the limited liability company and has equal rights in the management and conduct of the company's business. Managers are designated, appointed, elected, removed or replaced by a vote or consent of a majority of the members, while members acquire a membership interest directly from the limited liability company.
This field requires the names and addresses of your managers or members - depending on which management method you choose.
9. Names and Addresses of Organizer(s): The name and address of your organizer (Organizer refers to the person filling out the Articles of Organization forms).
Additional information pertaining to LLC's and their operating agreements can be found on our blog at www.IL-Registered-Agent.Blogspot.com.
