Notice: We are still operating during the COVID-19 crisis. However, we are not allowing visitors to our office and most of our staff is operating remotely. Our attorneys and staff are still available to help you by phone and email. If you get our voice mail, please leave a message and it will be returned promptly. There may be delays with mail due to the crisis, so please try to send documents by email after submitting a contact form here or fax to 312-419-0379, if possible.

Personal Liability of Owner of Administratively Dissolved Corporation

Question: Can the owner of a corporation be sued if the corporation is administratively dissolved and owner continues doing business?

Answer: Yes. If you charter a corporation with the Secretary of State of Illinois and continue business in its name after its corporate status lapses for nonpayment of franchise taxes, anyone conducting the business incurs personal liability. Reinstatement of the corporation does not erase the personal liability for the period before reinstatement.

Categories: