Illinois Conversions

Illinois Senate Bill 3398 was signed by the governor and became effective August 14, 2018. The bill amends the Limited Liability Company Act and the Professional Limited Liability Company Act to permit the conversion of a LLC to a professional LLC requiring no filing fee. The bill also requires a professional limited liability company’s name to contain “PLLC”. In addition, the bill provides for certificates of registration to expire on January 1, 2019 and on January 1 of every third year thereafter for professional LLCs, professional service corporations and medical corporations.