(205 ILCS 5/11) (from Ch. 17, par. 318)
Sec. 11.
Stock subscription.
As soon as may be after receipt of a permit to organize, books of
subscription to the capital stock and to the preferred stock, if any, may
be opened, and when the capital stock and the preferred stock shall have
been fully subscribed for, a meeting of the subscribers to the stock of
such bank shall be called (each subscriber having had, or waived, at least
three days' notice) for determination of the number and election of
directors as herein provided to serve as directors for one year and until
their successors are elected.
(Source: Laws 1955, p. 83.)
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