(215 ILCS 5/46) (from Ch. 73, par. 658)
(Section scheduled to be repealed on January 1, 2027)
Sec. 46.
Organization bonds.
The incorporators shall deliver to the Director two bonds in the same
penalties and containing the same provisions, so far as applicable, as the
bonds required for the organization of a stock company by Section 16, for
the use and benefit of the State of Illinois and subscribers, members and
creditors, or in lieu of delivering such bonds, the incorporators may
deposit cash or securities of the same kind and amount on the same terms
and conditions, so far as applicable, as provided by said Section.
(Source: Laws 1937, p. 696.)
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