(205 ILCS 620/Art. II heading) ARTICLE II. CERTIFICATE OF AUTHORITY AND ORGANIZATION (205 ILCS 620/2-1) (from Ch. 17, par. 1552-1) Sec. 2-1. (a) Any corporation which has been or shall be incorporated under the general corporation laws of this State for the purpose of accepting and executing trusts, and any state bank, state savings […]
(205 ILCS 620/Art. III heading) ARTICLE III. MERGERS, CHANGE OF CONTROL, SUCCESSOR TRUSTEE (205 ILCS 620/3-1) (from Ch. 17, par. 1553-1) Sec. 3-1. Merger. The merger procedure required of a trust company where there is to be a resulting trust company by consolidation or merger shall be: (1) The board of directors of each […]
(205 ILCS 620/Art. IV heading) ARTICLE IV. FOREIGN CORPORATE FIDUCIARIES (205 ILCS 620/4-1) (from Ch. 17, par. 1554-1) Sec. 4-1. Foreign corporate fiduciary; certificate of authority. After July 13, 1953, no foreign corporation, including banks, savings banks, and savings and loan associations, now or hereafter organized under the laws of any other state or […]
(205 ILCS 620/Art. IVA heading) ARTICLE IVA. MULTISTATE TRUST ACTIVITIES (205 ILCS 620/4A-1) Sec. 4A-1. Corporate fiduciaries establishing offices in other states. (a) A corporate fiduciary may act as a fiduciary or otherwise engage in fiduciary activities in this or any other state or foreign country, subject to complying with applicable laws of that […]
(205 ILCS 620/Art. IX heading) ARTICLE IX. MISCELLANEOUS PROVISIONS (Source: P.A. 97-492, eff. 1-1-12.) (205 ILCS 620/9-1) Sec. 9-1. (Repealed). (Source: P.A. 90-301, eff. 8-1-97. Repealed by P.A. 97-492, eff. 1-1-12.) (205 ILCS 620/9-2) Sec. 9-2. (Repealed). (Source: P.A. 90-301, eff. 8-1-97. Repealed by P.A. 97-492, eff. 1-1-12.) (205 ILCS 620/9-3) Sec. […]
(205 ILCS 620/Art. V heading) ARTICLE V. SUPERVISION OF CORPORATE FIDUCIARIES AND POWERS OF THE COMMISSIONER (205 ILCS 620/5-1) (from Ch. 17, par. 1555-1) Sec. 5-1. Commissioner’s powers. The Commissioner of Banks and Real Estate shall have the following powers and authority and is charged with the duties and responsibilities designated in this Act: […]
(205 ILCS 620/Art. VI heading) ARTICLE VI. RECEIVER AND INVOLUNTARY LIQUIDATION (205 ILCS 620/6-1) (from Ch. 17, par. 1556-1) Sec. 6-1. Exclusive remedy. The proceedings pursuant to this Article 6 shall be the exclusive remedy and the only proceedings commenced in any court for the dissolution or for the winding up of the affairs […]
(205 ILCS 620/Art. VII heading) ARTICLE VII. VOLUNTARY LIQUIDATION (205 ILCS 620/7-1) (from Ch. 17, par. 1557-1) Sec. 7-1. Voluntary liquidation; procedure. Any corporate fiduciary which desires to retire from business under this Act, shall furnish to the Commissioner satisfactory evidence of its release and discharge from all the obligations and trusts hereinbefore provided […]
(205 ILCS 620/Art. VIII heading) ARTICLE VIII. OFFENSES AND PENALTIES (205 ILCS 620/8-1) (from Ch. 17, par. 1558-1) Sec. 8-1. False statements. It is unlawful for any officer, director, employee, or agent of any corporate fiduciary subject to examination by the Commissioner or any person filing an application or submitting information in connection with […]
