{"data":{"id":"us-il/805-ilcs-180-25-45","jurisdiction":"us-il","citation":"805 ILCS 180/25-45","heading":"Known claims against dissolved limited liability company.","body":"(a) A dissolved limited liability company may dispose of the known claims against it by following the procedure described in this Section.\n(b) A dissolved limited liability company shall notify its known claimants in writing of the dissolution. The notice must:\n(1) specify the information required to be included in a claim;\n(2) provide a mailing address where the claim is to be sent;\n(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\n(4) state that the claim will be barred if not received by the deadline.\n(c) A claim against a dissolved limited liability company is barred if the requirements of subsection (b) of this Section are met, and:\n(1) the claim is not received by the specified deadline; or\n(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.\n(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.","path":["CHAPTER 805 BUSINESS ORGANIZATIONS","Limited Liability Company Act."],"source_url":"https://www.ilga.gov/legislation/ILCS/details?ActID=2290\u0026ChapterID=65\u0026ChapAct=FullText\u0026Print=True","current_through":"at least Public Act 104-790","vintage":"","retrieved_at":"2026-09-15T04:46:47Z","sha256":"60966927ed242a962a874f591c0b6d3f68d6099ba4a479ff32173c14b68a235d","source_id":"us-il","stale":false,"prev":"us-il/805-ilcs-180-25-35","next":"us-il/805-ilcs-180-25-50"},"notice":"GroundRules: Original legal text. Not legal advice."}