BUSINESS ORGANIZATIONS DEFINITIONS
The difference between foreign & domestic entity
and,
what is the registered office.
(Definitions provided by the various acts from the Illinois Statutes that define Domestic and foreign entities and registered agent and office).
(805 ILCS 5/) Business Corporation Act of 1983.
(805 ILCS 5/1.80) (from Ch. 32, par. 1.80)
Sec. 1.80. Definitions. As used in this Act, unless the context otherwise requires, the words and phrases defined in this Section shall have the meanings set forth herein.
(a) "Corporation" or "domestic corporation" means a corporation subject to the provisions of this Act, except a foreign corporation.
(In layman's terms: A U.S. company doing business in the state in which it is incorporated is considered a domestic entity.)
(b) "Foreign Corporation" means a corporation for profit organized under laws other than the laws of this State, but shall not include a banking corporation organized under the laws of another state or of the United States, a foreign banking corporation organized under the laws of a country other than the United States and holding a certificate of authority from the Commissioner of Banks and Real Estate issued pursuant to the Foreign Banking Office Act, or a banking corporation holding a license from the Commissioner of Banks and Real Estate issued pursuant to the Foreign Bank Representative Office Act.
(In layman's terms: A company that is conducting business in one state when incorporated or chartered in another is considered a foreign entity.)
(l) "Registered office" means that office maintained by the corporation in this State, the address of which is on file in the office of the Secretary of State, at which any process, notice or demand required or permitted by law may be served upon the registered agent of the corporation.
(805 ILCS 105/) General Not For Profit Corporation Act of 1986.
(805 ILCS 105/101.80) (from Ch. 32, par. 101.80)
Sec. 101.80. Definitions. As used in this Act, unless the context otherwise requires, the words and phrases defined in this Section shall have the meanings set forth herein.
(f) "Corporation" or "domestic corporation" means a domestic not-for-profit corporation subject to the provisions of this Act, except a foreign corporation.
(In layman's terms: A U.S. company doing business in the state in which it is incorporated is considered a domestic entity.)
(h) "Foreign corporation" means a not-for-profit corporation as defined and organized under the laws other than the laws of this State, for a purpose or purposes for which a corporation may be organized under this Act.
(n) "Registered office" means that office maintained by the corporation in this State, the address of which is on file in the office of the Secretary of State, at which any process, notice or demand required or permitted by law may be served upon the registered agent of the corporation.
(In layman's terms: A company that is conducting business in one state when incorporated or chartered in another is considered a foreign entity.
(805 ILCS 180/) Limited Liability Company Act.
(805 ILCS 180/1-5)
Sec. 1-5. Definitions. As used in this Act, unless the context otherwise requires:
"Foreign limited liability company" means an unincorporated entity organized under laws other than the laws of this State that afford limited liability to its owners comparable to the liability under Section 10-10 and is not required to register to transact business under any law of this State other than this Act.
(In layman's terms: A company that is conducting business in one state when incorporated or chartered in another is considered a foreign entity.
"Registered agent" means a person who is an agent for service of process on the limited liability company who is appointed by the limited liability company and whose address is the registered office of the limited liability company.
