Tag Archives: 805 ILCS 5-12.80

Dissolved Corporations and the Survival Statute: Basics That Closely-Held Corporations Should Know

Section 12.80 of the Business Corporation Act of 1983, 805 ILCS 5/12.80, is often called the “Survival Statute.”  The Survival Statute not only sets a five-year limit for filing claims against or on behalf of a dissolved corporation, but also … Continue reading

Posted in Capacity to Sue and Be Sued | Tagged , , | Leave a comment