Illinois Compiled Statutes 205 ILCS 5/71 – Voluntary dissolution; fees and expenses
Current as of: 2024 | Check for updates
|
Other versions
(a) Any bank that elects to dissolve voluntarily under this Act shall pay to the Secretary a fee, which shall be paid upon the Secretary’s receipt of the bank’s statement of intent. The Secretary shall prescribe by rule the amount of such fee.
(b) All expenses incurred by the Secretary in connection with the voluntary dissolution of any bank shall be paid by the dissolving State bank. The expenses incurred under this subsection shall be deemed to be a liability of the dissolving bank.
(b) All expenses incurred by the Secretary in connection with the voluntary dissolution of any bank shall be paid by the dissolving State bank. The expenses incurred under this subsection shall be deemed to be a liability of the dissolving bank.
Terms Used In Illinois Compiled Statutes 205 ILCS 5/71
- 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