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Does Illinois require corporations and limited liability companies to apply to use an assumed name? We have a corporate customer that has not submitted an application but has requested to present checks in an assumed name. – IBA Compliance Connection

IBA Compliance Connection

Your go to source for compliance!

Does Illinois require corporations and limited liability companies to apply to use an assumed name? We have a corporate customer that has not submitted an application but has requested to present checks in an assumed name.

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Corporations and LLCs are required file an “application” with the Secretary of State before transacting business in Illinois under an assumed name (although the assumed name may be used as of the date the “application” is filed). Before permitting your customer to present checks made out to an assumed name, you may wish to request documentation indicating that the customer has fulfilled this requirement.

For resources related to our guidance, please see:

  • Limited Liability Company Act, 805 ILCS 180/1-20 (“Before transacting any business in Illinois under an assumed limited liability company name or names, the limited liability company shall, for each assumed name, execute and file in duplicate an application setting forth all of the following: . . .”)
  • Business Corporation Act, 805 ILCS 5/4.15 (“Before transacting any business in this State under an assumed corporate name or names, the corporation shall, for each assumed corporate name, pursuant to resolution by its board of directors, execute and file in duplicate in accordance with Section 1.10 of this Act, an application setting forth: . . .”)