205 ILCS 205/10015

Current through Public Act 103-1052

Section 205 ILCS 205/10015 - Secretary's Proceedings Exclusive

Except by the authority of the Secretary, represented by the Attorney General, or the Federal Deposit Insurance Corporation pursuant to the Federal Deposit Insurance Act, no complaint shall be filed or proceedings commenced in any court for the dissolution of, the winding up of the affairs of, or the appointment of a receiver for any savings bank on the grounds that:

(1) it is insolvent;

(2) its capital is impaired or it is otherwise in an unsound condition;

(3) its business is being conducted in an unlawful, fraudulent or unsafe manner;

(4) it is unable to continue operations; or

(5) its examination has been obstructed or impaired.

205 ILCS 205/10015

Added by P.A. 096-1365,§ 30, eff. 7/28/2010.