(215 ILCS 5/262) (from Ch. 73, par. 874)
Sec. 262.
Organization bonds.
The incorporators shall deliver to the Director two bonds in the same
penalties and containing the same provisions, so far as applicable, as the
bonds required for the organization of a stock company by section 16, for
the use and benefit of the State of Illinois, members, subscribers to the
guaranty fund, if any, and creditors, or in lieu of delivering such bonds,
the incorporators may deposit cash or securities of the same kind and
amount and on the same terms and conditions, so far as applicable, as
provided by said section.
(Source: Laws 1937, p. 696.)
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