(215 ILCS 5/18) (from Ch. 73, par. 630)
(Section scheduled to be repealed on January 1, 2027)
Sec. 18.
Approval of
documents.
(1) If the Director finds that the documents and papers so delivered
comply with this Code, he must place on file in his office the by-laws,
form of subscription agreement, bonds or securities, and one of the
duplicate originals of the articles of incorporation, and endorse upon the
other duplicate original his approval, and the month, day and year of
approval and deliver it to the incorporators. The company is deemed to be
fully organized on the date of the approval of the articles of
incorporation by the Director, and that date is the date of incorporation
of the company.
(2) If the Director finds that any of said documents are insufficient or
do not comply with this Code, he shall notify the incorporators in writing
in what respect said documents are found to be insufficient and if
requested so to do must grant the incorporators a hearing.
(Source: P.A. 77-747.)
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