Sec. 70. Voluntary dissolution; Commissioner's payments.
91 words·~1 min read·
/il/chapter-205/act-5/70A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 70. Voluntary dissolution; Commissioner's payments. The Commissioner shall hold and pay out sums deposited with him either by the dissolving state bank or by the assuming bank in payment of the liabilities of the dissolving bank's liabilities for which such deposits have been made and after six years from the day on which the publication of dissolution pursuant to Section 68(8) was first made, the Commissioner shall return to the stockholders of the dissolved bank, to be among them distributed pro rata, the remainder of any such sum so deposited.