(205 ILCS 620/2-7) (from Ch. 17, par. 1552-7)
Sec. 2-7.
A corporate fiduciary so incorporated or
authorized after January 1, 1988, shall have minimum capital as determined by the Commissioner as
necessary for safe and sound operation of a corporate
fiduciary. The Commissioner shall record such organization
capital requirements in the Office of the
Secretary of State.
During the time that a corporate fiduciary shall continue in its
fiduciary business, it shall not withdraw, or permit to be withdrawn,
either in the form of dividends or otherwise, any portion of its capital
except as approved by the Commissioner. The Commissioner may, after a
corporate fiduciary has been incorporated or authorized require additional
capital if the Commissioner finds the condition and operations of the
corporate fiduciary or its proposed scope of operations require such
additional capital to achieve or maintain a safe and sound condition.
(Source: P.A. 90-301, eff. 8-1-97.)
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