(205 ILCS 405/15.1e) (from Ch. 17, par. 4830)
Sec. 15.1e.
Upon the filing of a complaint by the Attorney General for the
orderly liquidation and dissolution of a community currency exchange, as
provided in Section 15.1a, all pending suits and actions upon unsecured
claims against such currency exchange shall abate; however, nothing
contained herein shall prevent such claimants from filing their claims in
the liquidation proceeding. In the event a suit or an action is instituted
or maintained by the receiver on any bond or policy of insurance issued
pursuant to the requirements of this Act, the bonding or insurance company
sued, shall not have the right to interpose or maintain any counterclaim
based upon subrogation, or upon any express or implied agreement of, or
right to, indemnity or exoneration, or upon any other express or implied
agreement with, or right against, the currency exchange. Nothing herein
contained shall prevent such bonding or insurance company from filing such
claim in the liquidation proceeding.
(Source: Laws 1961, p. 3522.)
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