Updating the database of the Illinois Compiled Statutes (ILCS) is an ongoing process.
Recent laws may not yet be included in the ILCS database, but they are found on this site as
Public
Acts soon after they become law. For information concerning the relationship between statutes and Public Acts, refer to the
Guide.
Because the statute database is maintained primarily for legislative drafting purposes,
statutory changes are sometimes included in the statute database before they take effect.
If the source note at the end of a Section of the statutes includes a Public Act that has
not yet taken effect, the version of the law that is currently in effect may have already
been removed from the database and you should refer to that Public Act to see the changes
made to the current law.
(205 ILCS 620/5-10) (from Ch. 17, par. 1555-10)
Sec. 5-10. Fees; receivership account.
(a) There shall be paid to the Commissioner by every corporate
fiduciary including each trust company, bank, savings and loan association,
and savings bank to which this Act
shall apply, reasonable
fees that the Commissioner shall assess to recover the costs of administration,
certification, examination and supervision of trusts
authorized under this Act.
(b) In addition to the fees authorized in
subsection (a) of this
Section the Commissioner shall assess reasonable receivership fees and
establish a Non-insured Institutions Receivership account in the Bank
and Trust Company Fund to provide for the expenses that arise from the
administration of the receivership of a corporate fiduciary under this Act.
The aggregate of such assessments shall be paid into the Non-insured Institutions Receivership
account in the Bank and Trust Company Fund. The assessments for this
account shall be levied until the sum of $4,000,000 has been
deposited into
the account from assessments authorized herein, whereupon the Non-insured Institutions Receivership
account assessment shall be abated. If a receivership of a corporate
fiduciary under this Act requires expenditures from this account,
assessments may be reinstituted until the balance in the Non-insured Institutions Receivership
account arising from assessments is restored to $4,000,000.
(c) The Commissioner
may, by rule, establish a reasonable manner of assessing the receivership
assessments under this Section.
(Source: P.A. 96-1365, eff. 7-28-10.)
|
