Illinois General Assembly - Illinois Compiled Statutes

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215 ILCS 5/164

(215 ILCS 5/164) (from Ch. 73, par. 776)

Sec. 164.

Removal of
property of domestic, merged or consolidated company from this State.

(1) If the surviving or new company shall be a foreign or alien company,
no property of the domestic merged or consolidated company shall be removed
from this State by reason of such merger or consolidation, prior to, nor
shall title to such property vest in the surviving or new company until,
the merger or consolidation shall become effective in this State as
provided in section 163.

(2) Any director or officer of any domestic company removing or
permitting the removal of any property of company from this State in
violation of this section, shall be guilty of a Class A misdemeanor.

(Source: P.A. 77-2699.)