(205 ILCS 620/6-9) (from Ch. 17, par. 1556-9)
Sec. 6-9.
If the Commissioner determines at any time
that no reasonable possibility exists for the corporate fiduciary
to be reorganized after reasonable efforts have been made, and
that it should be liquidated through receivership, he shall
appoint a receiver. The Commissioner may require of the receiver
such bond and security as the Commissioner deems proper. The
Commissioner, represented by the Attorney General, shall file a
complaint for the dissolution or winding up of the affairs of such
corporate fiduciary in a court of the county where the principal office of
such corporate fiduciary is located and shall cause notice to be given
in a newspaper of general circulation once each week for four
consecutive weeks that persons who may have claims against the
corporate fiduciary present them to the receiver and to make
legal proof thereof and notifying all such persons and all to
whom it may concern of the filing of a complaint for the
dissolution or winding up of the affairs of the corporate
fiduciary and stating the name and location of said court. All
persons who may have claims against the assets of such corporate fiduciary, as
distinguished from the assets of the beneficiaries of such fiduciary relations, and
the receiver to whom such persons have presented their claims may
present them to the clerk of such court, and the allowance or
disallowance of such claims by said court in connection with such
proceedings shall be deemed an adjudication in a court of
competent jurisdiction.
(Source: P.A. 86-754.)
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