Illinois § 71 Voluntary dissolution; fees and expenses

Illinois Statutes

§ 71 — Voluntary dissolution; fees and expenses

Illinois § 71

TopicREGULATION

Ch. 205FINANCIAL REGULATION

Act 205 ILCS 5/Illinois Banking Act.

This text of Illinois § 71 (Voluntary dissolution; fees and expenses) is published on Counsel Stack Legal Research, covering Illinois primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

205 Ill. Comp. Stat. 71 (2026).

Text

(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.

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(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.

Legislative History

(Source: P.A. 98-1081, eff. 1-1-15 .)

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Bluebook (online)

Illinois § 71, Counsel Stack Legal Research, https://law.counselstack.com/statute/il/205/71.