Illinois Administrative Code
Title 14 - COMMERCE
Part 150 - BUSINESS CORPORATION ACT
Subpart C - ERRORS, REFUNDS, CORRECTIONS, ADJUSTMENTS, OBJECTIONS, AND OTHER RELIEF
Section 150.300 - Errors or Defects
Current through Register Vol. 48, No. 38, September 20, 2024
a) Matters deemed "errors" or "defects" for which a statement of correction may be filed are facts that have been misreported in a document filed with the Secretary of State's Office and do not include any other matter which in retrospect is considered a mistake or which as to the action reported reflects a subsequent event.
b) Matters deemed errors or defects in original articles of incorporation are: typographical errors in the names of the first board of directors (but not such as to substitute or delete a person or part); errors in the number of shares proposed to be issued; or errors in the amount of consideration to be received for the initial issue of shares. Any other matters shall not be the subject of a statement of correction but, in an appropriate case, shall be dealt with by articles of amendment.
c) Matters deemed errors or defects in an application for an original or amended certificate of authority of a foreign corporation and for which a statement of correction may be filed are: typographical errors in the corporate name which is not the same as the name shown on the certified copy; errors in the names or addresses of the directors, the officers, or the principal office; errors in the number of shares issued or in the amount of the paid-in capital.
d) Matters deemed errors or defects for which a statement of correction may be filed in a reservation of transfer of corporate name, an application to adopt, change or cancel an assumed corporate name, an application for registration or renewal of corporate name (foreign), a statement of change or notice of resignation of registered agent/office, or an application for reinstatement not including the corporate or assumed corporate name are those in the personal names or addresses reported therein, but not those alleged errors which would substitute or delete a person or party or address.
