(205 ILCS 5/67) (from Ch. 17, par. 379)
Sec. 67.
Judicial review.
Whenever the Commissioner shall have taken possession and control of a
state bank and its assets for the purpose of examination, reorganization or
liquidation through receivership, or whenever the Commissioner shall have
appointed a receiver for a bank, other than the Federal Deposit Insurance
Corporation, and filed a complaint for the dissolution
or for the winding up of the affairs of a bank, and the bank denies the
grounds for such actions, it may at any time within ten days apply to the
Circuit Court of Sangamon County, Illinois, to enjoin further proceedings
in the premises; and such court shall cite the Commissioner to show cause
why further proceedings should not be enjoined, and if the court shall find
that such grounds do not exist, the court shall make an order enjoining the
Commissioner and any receiver acting under his direction from all further
proceedings on account of such alleged grounds, provided that neither the
ten days allowed by this Section 67 for judicial review nor the pendency of
any proceedings for judicial review shall operate to defer, delay, impede
or prevent the payment or acquisition by the Federal Deposit Insurance
Corporation of the deposit liabilities of the state bank which are insured
by the Federal Deposit Insurance Corporation, and during said period
allowed for judicial review and during the pendency of any proceedings for
judicial review under this Section 67, the Commissioner or, as the case may
be, the receiver, shall make available to the Federal Deposit Insurance
Corporation such facilities in or of the state bank and such books, records
and other relevant data of the state bank as may be necessary or
appropriate to enable the Federal Deposit Insurance Corporation to pay out
or to acquire the insured deposit liabilities of the state bank, and said
Federal Deposit Insurance Corporation and its directors, officers, agents
and employees, and the Commissioner and his agents and employees, including
the receiver, if any, shall be free from any liability to the state bank
and its stockholders and creditors for or on account of any matter or thing
in this proviso referred to or provided for.
(Source: P.A. 89-364, eff. 8-18-95.)
|