Illinois § 50 Commissioner's proceedings exclusive

Illinois Statutes

§ 50 — Commissioner's proceedings exclusive

Illinois § 50

TopicREGULATION

Ch. 205FINANCIAL REGULATION

Act 205 ILCS 5/Illinois Banking Act.

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Bluebook

205 Ill. Comp. Stat. 50 (2026).

Text

Except by the authority of the Commissioner, represented by the Attorney General, or the Federal Deposit Insurance Corporation pursuant to the Federal Deposit Insurance Act, no complaint shall be filed or proceedings commenced in any court for the dissolution or for the winding up of the affairs or for the appointment of a receiver for any state bank on the grounds:

(1)That it is insolvent; or (2) That its capital is impaired or it is otherwise in an unsound condition; or (3) That its business is being conducted in an unlawful, fraudulent or unsafe manner; or (4) That it is unable to continue operations; or (5) That its examination has been obstructed or impaired.

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Except by the authority of the Commissioner, represented by the Attorney General, or the Federal Deposit Insurance Corporation pursuant to the Federal Deposit Insurance Act, no complaint shall be filed or proceedings commenced in any court for the dissolution or for the winding up of the affairs or for the appointment of a receiver for any state bank on the grounds: (1) That it is insolvent; or (2) That its capital is impaired or it is otherwise in an unsound condition; or (3) That its business is being conducted in an unlawful, fraudulent or unsafe manner; or (4) That it is unable to continue operations; or (5) That its examination has been obstructed or impaired.