Illinois Compiled Statutes 205 Financial Regulation: Article VI - Receiver and Involuntary Liquidation

• Illinois Corporate Fiduciary Act. - 205 ILCS 620, Section 6-1
  Exclusive remedy. The proceedings pursuant to this Article 6 shall be the exclusive remedy and the only proceedings commenced in any court for the...
• Illinois Corporate Fiduciary Act. - 205 ILCS 620, Section 6-2
  Control by Commissioner. (a) If the Commissioner with respect to a corporate fiduciary shall find: (1) Its capital is impaired or it is otherwise...
• Illinois Corporate Fiduciary Act. - 205 ILCS 620, Section 6-3
  The Commissioner may take possession and control of a corporate fiduciary, its assets, and assets held for the beneficiaries of its fiduciary obligations by...
• Illinois Corporate Fiduciary Act. - 205 ILCS 620, Section 6-4
  Judicial proceedings; examination. (a) Promptly after taking possession and control of a corporate fiduciary, the Commissioner shall file a copy of the notice posted...
• Illinois Corporate Fiduciary Act. - 205 ILCS 620, Section 6-5
  When the Commissioner has taken possession and control of a corporate fiduciary and its assets, he shall be vested with the full powers of...
• Illinois Corporate Fiduciary Act. - 205 ILCS 620, Section 6-6
  Upon taking possession, the Commissioner shall make an examination of the condition of the corporate fiduciary, an inventory of the assets and unless the...
• Illinois Corporate Fiduciary Act. - 205 ILCS 620, Section 6-7
  If the Commissioner takes possession and control of a corporate fiduciary and its assets, or appoints a receiver which may be the Office of...
• Illinois Corporate Fiduciary Act. - 205 ILCS 620, Section 6-7.1
  If the Commissioner appoints a receiver to take possession and control of the assets of the beneficiaries of such fiduciary relations, for the purpose...
• Illinois Corporate Fiduciary Act. - 205 ILCS 620, Section 6-8
  The Commissioner, while in possession and control of a corporate fiduciary may propose a reorganization plan, which plan may be amended from time to...
• Illinois Corporate Fiduciary Act. - 205 ILCS 620, Section 6-9
  If the Commissioner determines at any time that no reasonable possibility exists for the corporate fiduciary to be reorganized after reasonable efforts have been...
• Illinois Corporate Fiduciary Act. - 205 ILCS 620, Section 6-10
  The receiver for a corporate fiduciary, under the direction of the Commissioner, shall have the power and authority and is charged with the duties...
• Illinois Corporate Fiduciary Act. - 205 ILCS 620, Section 6-11
  Upon the order of the court wherein the Commissioner's complaint for the dissolution or winding up of the affairs of the corporate fiduciary was...
• Illinois Corporate Fiduciary Act. - 205 ILCS 620, Section 6-12
  The receiver shall serve at the pleasure of the Commissioner and upon the death, inability to act, resignation or removal by the Commissioner of...
• Illinois Corporate Fiduciary Act. - 205 ILCS 620, Section 6-13
  All expenses of a receivership, including reasonable receiver's and attorney's fees, approved by the Commissioner, shall be paid out of the assets of the...
• Illinois Corporate Fiduciary Act. - 205 ILCS 620, Section 6-13.5
  Pledging requirements. (a) The Commissioner may require a trust company holding a certificate of authority under this Act to pledge to the Commissioner securities or...
• Illinois Corporate Fiduciary Act. - 205 ILCS 620, Section 6-14
  From time to time during receivership the Commissioner shall make and pay from monies of the corporate fiduciary a ratable dividend on all claims...
• Illinois Corporate Fiduciary Act. - 205 ILCS 620, Section 6-15
  Whenever the Commissioner shall have taken possession and control of a corporate fiduciary and its assets for the purpose of examination, reorganization or liquidation...

Last modified: February 18, 2015