(205 ILCS 205/8013) (from Ch. 17, par. 7308-13)
Sec. 8013. Emergency merger. With the prior approval of the Secretary, which approval shall state that the proposed merger is in his
opinion necessary for the protection of the depositors and other creditors,
any savings bank that is an eligible depository institution, as defined in
the Illinois Banking Act, may, by a vote of a majority of its board of
directors and without a vote of its members or stockholders, merge with
another savings bank or depository institution, with the other savings bank or depository institution being the resulting
or continuing savings bank or depository institution.
(Source: P.A. 97-492, eff. 1-1-12.)
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