(205 ILCS 5/72) (from Ch. 17, par. 384)
Sec. 72.
Voluntary dissolution; dissolving bank.
Upon and after the day on which the publication provided for in Section
68(8) was first made:
(1) The dissolving bank shall cease to carry on its business, except
insofar as may be necessary for the proper winding up thereof, but its
corporate existence shall continue until the expiration of six years from
the date upon which the publication provided for in Section 68(8) was first
made;
(2) The dissolving bank as soon as practical shall resign all fiduciary
positions and take such action as may be necessary to settle its fiduciary
accounts;
(3) The dissolving bank as soon as practical shall discontinue any safe
deposit business it may have and take steps to return any property of
others that it may have in its possession as bailee; and
(4) The dissolving bank may make and distribute to its stockholders from
time to time liquidating dividends provided in each case the amount, manner
and time of payment shall have been first approved by the Commissioner.
(Source: Laws 1965, p. 2020.)
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