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List of Forms by Chapter
Chapter 1 — Overview
Chapter 2 — Introduction to and Background of Illinois Limited Liability Companies
Chapter 3 — Organizing an Illinois Limited Liability Company
II. Choice of Entity: Industry, Tax, Liability, Control, and Distribution Issues
III. Organizational Filings and Forms Needed
IV. For-Profit Entity Tax Incidence
V. [3.45] Self-Employment Tax
VI. Liability Limitation
VII. Control and Management
X. Articles of Organization
XI. Tax Registration
XII. Appendix
Chapter 4 — Limited Liability Company Operating Agreements
IV. [4.4] Default Rules
VII. Appendix — Sample Forms
Chapter 5 — Illinois Limited Liability Company Operating and Maintenance Issues
II. Management Structure and General Operating Topics
III. Election and Compensation of Managers
IV. Proper Election of Management Structure
Chapter 6 — Liability of Members and Managers in Limited Liability Companies, Including Breach of Fiduciary Duties
II. Sources of Liability
IV. Fiduciary Duties
Chapter 7 — Capital Structure and Membership Interests
II. Contributions
III. Distributions
IV. Membership Interest
Chapter 8 — Uses for Limited Liability Companies
II. Versatile Entity Form Creates Many Uses
III. [8.8] Common and Specific Uses for Limited Liability Companies
IV. [8.26] Prohibited and Uncertain Limited Liability Company Uses
Chapter 9 — Working with Limited Liability Companies
II. Conversion of an Existing Entity to or from a Limited Liability Company
III. Bankruptcy Law and Creditors’ Rights Issues
V. Across-State-Border Issues
VI. Using Limited Liability Companies for Business Transactions
Chapter 10 — Tax Issues
II. Federal Income Tax
III. Illinois State Taxes
V. Medicare Taxes
VI. [10.30] Estate and Gift Taxes
VII. Comparison of Partnerships with Other Entities
Chapter 11 — Series Limited Liability Companies
II. [11.2] Illinois Statute: How To Establish a Series Limited Liability Company
IV. Law Considerations
Chapter 12 — Insolvency Implications for the Limited Liability Company and Its Members
II. [12.2] The Event of Insolvency: Guiding Principles
III. [12.7] The Insolvent Limited Liability Company
IV. [12.18] The Insolvent Limited Liability Company Member
V. [12.21] Out-of-Court Workout or Dissolution of the Insolvent Limited Liability Company
VI. [12.25] The Limited Liability Company and Its Members and Managers in Bankruptcy
VII. [12.31] The Limited Liability Company Debtor in a Chapter 11 Case
VIII. [12.56] The Member Debtor in a Chapter 7 CaseMark A. Carter is a Partner at Hinshaw & Culbertson LLP, in Chicago, where he focuses his practice on corporate transactions and business restructuring. He is a member of the American Bankruptcy Institute and the Illinois State Bar Association Business and Securities Law Section Council. Carter has also been recognized in The Best Lawyers in America® for his work in corporate law (2023 – 2026). Carter received his B.A. with high honors from the University of Illinois at Urbana-Champaign and his J.D. from the University of Illinois College of Law.
James W. Dodge is a Professor at Purdue Global Law School, where he serves as the subject-matter expert for contracts. His courses cover estates, wills, and trusts; real property; and corporations and business organizations. He is a member of the Academy of Legal Studies in Business and a former member of the Uniform Laws Commission (2011 – 2022). Dodge received his B.S. from the University of Illinois and his J.D. from Southern Illinois University School of Law.
Timothy S. Farberis a Partner with Troutman Pepper Locke LLP, in Chicago, and concentrates his practice in transactional and regulatory issues. Farber is a member of the Illinois State and American Bar Associations. He received his B.S. summa cum laude from the University of Missouri and his J.D. from Washington University School of Law, where he was Editor of the Washington University Law Review, formerly Washington University Law Quarterly.
Kyle Fonjemie is an associate at Hinshaw & Culbertson LLP, in Chicago, where he focuses his practice on business and commercial transactions, corporate governance, and mergers and acquisitions.He is a member of the Chicago Bar Association and a member and past President of the Field Museum’s Field Associates Executive Committee. Fonjemie received his B.A. from the University of Wisconsin at Madison and his J.D. from the University of Wisconsin Law School.
Robert S. Held is an attorney at Held Law Offices, in Chicago, who represents corporate and individual fiduciaries — as well as beneficiaries — in complex estate and trust litigation, guardianship matters, and commercial litigation. He is a member of the Chicago Bar Association and Past Chair of its Trust Law Committee’s Insurable Interest Subcommittee, its Federal Taxation Committee, and its Estate and Gift Taxation Subcommittee. He received his B.A. from the State University of New York at Buffalo, his MBA from Eastern New Mexico University, and his J.D. from DePaul University.
Michael Held is an associate with Held Law Offices in Chicago, where he focuses his practice on litigation. He is also a Captain in the United States Marine Corps. Mr. Held received his BA from Boston University and his JD from the University of Illinois College of Law.
Anthony J. Jacob is a Partner at Hinshaw & Culbertson LLP, in Chicago, and concentrates his practice in business law, banking and commercial finance law, real estate law, and election law. In 2013 and 2014, respectively, Jacob was appointed as a member of the investment committee for the board of trustees at the University of Illinois Chicago School of Law (formerly known as the John Marshall Law School) and as a board member at the Institute of Illinois Business Law at Chicago-Kent College of Law. He has previously chaired the Business and Securities Law Section Council of the Illinois State Bar Association. Jacob received his B.A. at Northern Illinois University and both his LL.M. and J.D. from the University of Illinois Chicago School of Law, where he was Student Publications Editor of the UIC Law Review and a member of the moot court team.
Shawn M. McCullough is an associate at Harrison LLP, in Chicago, and focuses his practice on estate planning, estate and trust administration, and business succession. McCullough is a member of the Chicago Estate Planning Council and the Chicago and Illinois State Bar Associations. He is also a Certified Public Accountant. McCullough earned his B.S. from Indiana University and his J.D. from IIT Chicago-Kent College of Law.
Charles W. Murdock is a Professor at Loyola University Chicago School of Law, where he teaches corporate and securities law. Professor Murdock is a member of the Illinois State Bar Association’s Business Law & Securities Section Council. He was involved in drafting the Business Corporation Act of 1983 and the Limited Liability Company Act. He received his B.S.Ch.E. from the Illinois Institute of Technology and his J.D. from Loyola University Chicago School of Law.
Natalie M. Perry is a Partner at Harrison LLP, in Chicago, where she concentrates her practice in estate, gift, and income tax planning; trust and estate administration; and business succession planning matters. She is a Fellow in the American College of Trust and Estate Counsel. Her election to ACTEC resulted from and is in recognition of her professional reputation, extensive experience in the field of trusts and estates and continuing contributions to this field through speaking, writing, and bar activities. She is a frequent speaker on estate and tax planning matters and has been on the planning committee as well as a member of the faculty for the IICLE® Estate Planning Short Course for over ten years. Perry received her B.S. in accounting from Indiana University and her J.D. from the DePaul University College of Law.
Chad J. Richter is a Partner at Mathis, Marifian & Richter, Ltd., in Edwardsville, where he focuses his practice on business law, trusts and estates, and real estate. Richter is a member and Former Chair of the Business and Securities Law Section Council of the Illinois State Bar Association, the President of the Madison County Bar Association, and was recognized in the 2026 edition of Best Lawyer’s Ones to Watch in America. He received his B.S. from Truman State University, his M.S. from Southern Illinois University Edwardsville, and his J.D. from Southern Illinois University Carbondale.
John B. Waters is Of Counsel to Roetzel & Andress, LPA, in Chicago, where he practices in the areas of corporate and tax law. He is a member of the American Bar Association Section of Taxation and the Illinois State Bar Association Federal Taxation Section. He received his B.S. from Iowa State University, his M.N.E. from North Carolina State University, his J.D. from the University of Idaho College of Law, where he was Symposium Editor of the Law Review, and his LL.M. in taxation from DePaul University.
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