Illinois General Assembly - Illinois Compiled Statutes

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205 ILCS 5/65

(205 ILCS 5/65) (from Ch. 17, par. 377)

Sec. 65. Dividends; dissolution.

From time to time during a receivership other than a receivership conducted by
the Federal Deposit Insurance Corporation, the Commissioner shall make and
pay from monies of the bank a ratable dividend on all claims as may be
proved to his or her satisfaction or adjudicated by the court. Claims so
proven or adjudicated shall bear interest at the rate of 3% per
annum from the date of the appointment of the receiver to the date of
payment, but all dividends on a claim shall be applied first to principal.
In computing the amount of any dividend to be paid, if the Commissioner
deems it desirable in the interests of economy of administration and
to the interest of the bank and its creditors, he or she may pay up to the
amount of $10 of each claim or unpaid portion thereof in full. As the
proceeds of the assets of the bank are collected in the course of
liquidation, the Commissioner shall make and pay further dividends on all
claims previously proven or adjudicated. After one year from the
entry of a judgment of dissolution, all unclaimed dividends shall be remitted
to the State Treasurer in accordance with the Revised Uniform Unclaimed
Property Act, as now or hereafter amended, together with a list of all unpaid
claimants, their last known addresses and the amounts unpaid.

(Source: P.A. 100-22, eff. 1-1-18.)