Illinois General Assembly - Illinois Compiled Statutes

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205 ILCS 205/4007

(205 ILCS 205/4007) (from Ch. 17, par. 7304-7)

Sec. 4007.

Proxies.

(a) Voting at a meeting may be either in person or by
proxy executed in writing by the member or shareholder or by
his duly authorized attorney-in-fact.  The forms and wording
of all proxies must receive prior approval of the Commissioner.

(b) No proxy shall be valid:

(1) After 11 months from the date of its execution,

unless otherwise provided in the proxy.

(2) Unless executed in an instrument separate from

other forms or documents relating to the member's accounts.

(3) For any meeting at which the member who gave it

is present, provided that notice is given by the member in writing, prior to the taking of any vote, to an official whom the savings bank shall identify at the meeting as having responsibility for the matter.

(4) Unless the member giving the proxy is told by the

person to whom it is given that the proxy is optional and that the voting rights it represents can be exercised by the member himself.

(Source: P.A. 86-1213.)