Article
Receiver and Involuntary Liquidation
- 205 ILCS 620/6-1— Exclusive remedy
- 205 ILCS 620/6-2— Control by Commissioner
- 205 ILCS 620/6-3
- 205 ILCS 620/6-4— Judicial proceedings; examination
- 205 ILCS 620/6-5
- 205 ILCS 620/6-6
- 205 ILCS 620/6-7
- 205 ILCS 620/6-7.1
- 205 ILCS 620/6-8— The Commissioner, while in possession and control of a corporate fiduciary may propose a reorganization plan, which plan may be amended from time to time because of changes in circumstances, if he finds: (1) The plan is feasible and fair to all classes of beneficiaries, creditors and stockholders
- 205 ILCS 620/6-9— If the Commissioner determines at any time that no reasonable possibility exists for the corporate fiduciary to be reorganized after reasonable efforts have been made, and that it should be liquidated through receivership, he shall appoint a receiver
- 205 ILCS 620/6-10
- 205 ILCS 620/6-11
- 205 ILCS 620/6-12
- 205 ILCS 620/6-13— 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 corporate fiduciary
- 205 ILCS 620/6-13.5— Pledging requirements
- 205 ILCS 620/6-14— From time to time during receivership the Commissioner shall make and pay from monies of the corporate fiduciary a ratable dividend on all claims as may be proved to his or her satisfaction or adjudicated by the court
- 205 ILCS 620/6-15