(205 ILCS 5/74.5)
Sec. 74.5.
Voluntary dissolution of less active bank.
Upon being
satisfied that the affairs of a State bank that had originally transferred
substantially all its assets and liabilities pursuant to Section 13 of this Act
have been wound up, and that the bank has not accepted deposits other than
from other banks owned or controlled by the same bank holding company for a
period of at least 2 years, the Commissioner may provide for the expedited
conclusion of dissolution proceedings and termination of the charter and may, 2
years after the first day on which the publication of a resolution of
dissolution by the Commissioner was
accomplished, issue his certificate of cancellation of the charter of the
dissolving bank and its corporate existence shall then and thereupon terminate.
This certificate shall be recorded by the Commissioner and the original or a
certified copy thereof shall be evidence in all courts of the termination of
the charter of the bank.
(Source: P.A. 89-364, eff. 8-18-95.)
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