A corporate fiduciary that maintains a place of business in this State under Section 4A-5, or the home state regulator of such foreign corporation, shall give at least 30 days prior written notice or, in the case of an emergency transaction, such shorter notice as is consistent with applicable state or federal law, to the Commissioner of:
        (1) any merger, consolidation, or other transaction
    
that would cause a change in control with respect to the foreign corporation or any bank holding company that controls the corporation;
        (2) any transfer of all or substantially all of the
    
trust accounts or trust assets of the foreign corporation to another person; or
        (3) the closing or disposition of any place of
    
business in this State.

Terms Used In Illinois Compiled Statutes 205 ILCS 620/4A-25

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Fiduciary: A trustee, executor, or administrator.
  • State: when applied to different parts of the United States, may be construed to include the District of Columbia and the several territories, and the words "United States" may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14
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