To form a Limited Liability Company (LLC) in Illinois, there are several requirements that must be met. These requirements include:
- Choosing a name: The company's name must be unique and not already in use by another Illinois LLC. The name should not contain any prohibited words or phrases, such as those suggesting that the company is affiliated with a government agency or those that are misleading or deceptive.
- Choosing a Registered Agent: A Registered Agent must be appointed to receive legal documents and official correspondence on behalf of the LLC. The agent must be a resident of Illinois or a corporation that is authorized to do business in the state.
- Filing Articles of Organization: The LLC must file Articles of Organization with the Illinois Secretary of State's Office. The articles must include the company's name, address, registered agent's name and address, and the business purpose of the LLC.
- Creating an Operating Agreement: Although it is not required by law, it is highly recommended that an Operating Agreement be created. The Agreement outlines the internal management structure, ownership percentages, and various other provisions related to the LLC.
- Obtaining Necessary Permits and Licenses: Depending on the type of business, certain permits or licenses may be required to operate the LLC.
It is important to note that there may be exceptions or limitations to these requirements depending on the specific circumstances of the LLC. It is recommended that individuals seeking to form an LLC in Illinois consult with a licensed attorney to ensure that all legal requirements are met.
In conclusion, to form a Limited Liability Company in Illinois, individuals must choose a unique name, appoint a Registered Agent, file Articles of Organization, create an Operating Agreement, and obtain any necessary permits or licenses. It is recommended that individuals consult with an attorney to ensure all legal requirements are met.
By
