Sec. 4A-25. Notice to Commissioner.
127 words·~1 min read·
/il/chapter-205/act-620/4a-25A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 4A-25. Notice to Commissioner. A corporate fiduciary that maintains a place of business in this State under Section 4A-5, or the home state regulator of such foreign corporation, shall give at least 30 days prior written notice or, in the case of an emergency transaction, such shorter notice as is consistent with applicable state or federal law, to the Commissioner of:
(1)any merger, consolidation, or other transaction that would cause a change in control
with respect to the foreign corporation or any bank holding company that controls the corporation;
(2)any transfer of all or substantially all of the trust accounts or trust assets of
the foreign corporation to another person; or
(3)the closing or disposition of any place of business in this State.